Rand gains after SAR leaves repo rate unchanged at 6.75% as expected
The SA rand is stronger after the SAR leaves rates on hold 18 Jan
- 5 voted in favour
- 1 voted for cut of 0.25%
Further to my earlier post and tweet the SAR left repo rate on hold as expected but the rand has breathed a sigh of relief and USDZAR now at 12.2030 from 12.2610 prior to the meeting starting, down over 1%
The SAR plays it differently and announces the actual decision at the end of the statement so traders are left picking out clues from the rhetoric.
I hope the move suits our ZAR traders.