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Brief note intended as a more regular interface with our clients. The emphasis is to provide our interpretation of important economic events, such as South African Reserve Bank interest rate statements, and key data releases, including GDP growth figures.
This week’s sharp reversal of the strengthening trend for the rand exchange rate dominated the latest MPC interest rate statement. In line with our and the financial market expectation, the MPC decided to keep the repo rate unchanged at 7% (prime rate at 10.5%).
