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The South African Reserve Bank surprised markets by leaving its benchmark rate unchanged at 6.75% on Thursday, with the committee split 3-3. The rand extended gains and bonds firmed as the carry trade regained appeal.
Higher South African rates support the rand and lower import costs for feed ingredients priced in dollars, though the hold signals limited near-term relief for domestic borrowing costs.
moneyweb.co.zaMfuneko Toyana, ReutersSep 22, 2017Not 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.
