Rand gains after SAR leaves repo rate unchanged at 6.75% as expected

Author: Mike Paterson | Category: News

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.
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