KEEP UP TO DATE WITH ALL THE IMPORTANT COVID-19 INFORMATIONCOVID-19 RESOURCE PORTAL
FANews
FANews
RELATED CATEGORIES
Category Investments

Weak and strong

12 October 2004 Angelo Coppola

The rand weakened yesterday as the price of gold dropped, but traders said further losses were likely to be limited ahead of the outcome of the Reserve Bank's two-day monetary policy meeting.

RMB AM and Business Day report that a poll yesterday showed that 22 out of 24 economists expect the Bank to keep its repo rate steady at 7,50% with surging global oil prices and domestic debt threatening an otherwise benign inflation outlook.

By late afternoon, the rand was trading at R6,59 to the dollar – about 4c weaker than its levels late on Monday, when it was tucked in a tight range with the US closed for a public holiday.

In New York the dollar gained against European currencies yesterday, drawing support from weaker-than-expected investor confidence numbers in the euro zone and a benign inflation report out of Britain.

The euro was trading about $1,2313, below US levels around $1,2390.

Quick Polls

QUESTION

Are you shocked by Sasria’s 2022 rate increases, or is it expected given the sheer scale of the July 2021 rioting plus the ongoing increase in frequency and severity of protest losses?

ANSWER

Yes, I am shocked and so will my clients be shocked
No, it was expected
fanews magazine
FAnews November 2021 Get the latest issue of FAnews

This month's headlines

New proposals to amend PPRs have major impact
The untold truth about intermediary agreements
Rethinking claims
Tik-Tok: The clock is ticking on SA’s R45 billion unclaimed benefits bomb
Medical schemes’ average increases for 2022
Disability claims aggregation
Subscribe now