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The rand firmed after Statistics South Africa reported February consumer inflation of 2.9%, its lowest in eight months and below the central bank's target range. Markets still expected the central bank to hold rates at 3.5% at its decision the next day.
Lower inflation supports the rand and keeps South African carry-trade appeal intact, which slightly lowers the local currency cost of dollar-denominated feed imports.
brecorder.comReutersMar 24, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
