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Moody's deferred a scheduled review of South Africa's credit rating to November 1, which keeps the country's only investment-grade rating in place until after the May 8 elections. The rand had its strongest rally in three months on Monday, and government bond yields fell to their lowest since May.
Analysts expect the election outcome to shape the pace of economic reform.
Keeping the investment-grade rating supports the rand and lowers the local cost of imported feed. A downgrade later in the year would reverse this support and raise import costs.
moneyweb.co.zaColleen Goko, BloombergApr 1, 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.
