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The rand rebounded against the pound and dollar after Finance Minister Tito Mboweni unveiled the 2019 budget. The budget projects a deficit of 4.5% of GDP, with tax increases lifting revenue, real spending cuts, and plans to break up and partly privatise Eskom.
The budget's fiscal consolidation and Eskom plan support the rand and could help protect South Africa's credit rating, lowering the local cost of dollar-priced imports.
poundsterlinglive.comJames SkinnerFeb 20, 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.
