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*Rates as of 17 June 2015, based on buying €100,000 with GBP
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Dudley downplays US rate rises (video)
The US Federal Reserve appeared to make a dramatic U-turn last night, when Fed official Will Dudley claimed that a rate rise in September “seems less compelling” than it did a few weeks ago.
CD South Africa: Rand on track for recovery
Strong gains in both the US and China have eased nerves as global markets start to recover. With global sentiment on the up, the rand is back to more “normal” levels.
Broken China responds by cutting rates
The People’s Bank of China cut the main interest rate by 25 basis points yesterday (25 August), and also cut the reserve requirement ratio by 50 basis points.
CD South Africa: Economy is going nowhere slowly
A dismal second quarter gross domestic product figure released yesterday at -1.3% (yes, that is negative) does certainly not paint a pretty picture of South Africa's economy.