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Deputy Governor Daniel Mminele said the South African Reserve Bank expects the rand to stay volatile in 2019, with an average forecast of 14.50 per dollar. He added that policy would focus on second-round inflation effects rather than short-term market moves.
The rand has fallen more than 20% against the dollar in 2018.
Rand volatility feeds into the local cost of imported feed ingredients and makes forward cost planning harder for buyers. The central bank's stance suggests no immediate policy shift to offset currency swings.
moneyweb.co.zaMfuneko Toyana, ReutersNov 28, 2018Not 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.
