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The rand slumped after Finance Minister Mboweni's mid-year budget update showed a sharply wider deficit, now 5.9% of GDP, and debt rising toward 70% by 2022/23. The update came days before Moody's decision on South Africa's last investment-grade rating.
Fiscal deterioration and possible loss of investment-grade status weaken the rand and raise the cost of imported feed inputs in South Africa. The impact on global feed markets is limited.
poundsterlinglive.comJames SkinnerOct 30, 2019Not 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.
