Local markets shift focus to the SARB’s MPC meeting today which could confirm a possible interest rate cut.
Speculation is that Governor Lesetja Kganyago could cut the interest rate by 25bps. Following Moody’s decision to change SA’s outlook to stable, it looks like that the SARB will follow up with some more positive news, this time for consumers with a “lil’ debt”.
Despite SA being a “small fish” Moody’s is said to start affirming our improved ratings. Globally: the US and China have agreed to negotiations to finalize a trade deal therefore minimizing a potential trade war. Have a great Wednesday!
All rates quoted are the interbank rates at time of publishing and shown for indicative purposes only. It is important to note that foreign exchange rates fluctuate and that the rates will vary depending on the amount and product purchased and sold.