CD South Africa: Devil in the detail: it’s all eyes on SARB Governor Kganyago

Currencies Direct January 29th 2015 - < 1 minute read

The devil will be in the detail today as South African Reserve Bank Governor Lesetja Kganyago gives his monetary policy statement at 15:30 today. We are not expecting any movement in interest rates, but markets are all waiting in anticipation for an indication of the Bank's thinking in future.

If the SARB points towards no interest rate rises (or even a decrease!) in the medium term, it could be very negative for the rand. If the SARB maintains their view of stable rates with the view to raise rates later in the year, the rand may even enjoy a nice boost. It's going to be interesting to hear the SARB's take on post-festive season shenanigans. Enjoy!

Commentary by Gareth Frye

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Currencies Direct

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