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The South African Reserve Bank's monetary policy committee kept the repo rate at 7% and cut its growth forecasts for 2017 and 2018. Governor Kganyago said inflation is within the 3-6% target but that the longer-term trajectory is uncomfortably close to the upper end.
Holding rates high keeps domestic financing costs elevated for feed mills and livestock producers, and rand uncertainty remains a key inflation risk.
moneyweb.co.zaReutersMay 25, 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.
