{"id":2715,"date":"2021-01-19T20:25:21","date_gmt":"2021-01-19T20:25:21","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/?p=2715"},"modified":"2021-01-19T17:22:36","modified_gmt":"2021-01-19T17:22:36","slug":"rand-flat-ahead-of-sarb-interest-rate-decision","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-flat-ahead-of-sarb-interest-rate-decision","title":{"rendered":"Rand flat ahead of Sarb interest rate decision"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong><a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a> &#8211; <a href=\"https:\/\/www.africa-press.net\/south-africa\">South-Africa<\/a>. <\/strong><\/span>JOHANNESBURG &#8211; The rand ebbed, and the dollar retained dominance as traders are looking ahead to this week\u2019s MPC decision announcement and inflation data according to NKC Research.<\/p>\n<p>Against consensus (for a hold), we expect a rate cut of 25 bps, while this week will also host the mining and retail sales releases for November.<\/p>\n<p>Short-term volatility risk aside, the external backdrop generally remains a favourable one. Chinese GDP growth rose to 6.5 percent y-o-y in Q4, beating our forecast of 5.8 percent, amid an acceleration in industrial value added, consumption, investment and exports growth.<\/p>\n<p>Overall, China\u2019s GDP grew 2.3 percent in 2020 and given the Q4 data, we will revise up our 2021 China growth forecast further. We retain a bullish outlook on the rand despite a feeble domestic backdrop.<\/p>\n<p>At the close of local trade, the rand quoted 0.15 percent weaker at R15.25\/$, after trading in range of R15.19\/$ &#8211; R15.38\/$. The local unit traded firmer during this morning Asian trading session. Expected range today R15.00\/$ &#8211; R15.30\/$.<\/p>\n<p><b>South African bourse<\/b><\/p>\n<p>The JSE All Share (+0.28 percent) ended higher yesterday led by a surge in large technology (+6.47 percent) and industrial (+2.35 percent) stocks. In the overall emerging market sphere, the MSCI Emerging Market Index traded flat yesterday after reaching a record high on Friday.<\/p>\n<p><b>Brent crude oil<\/b><\/p>\n<p>The Brent oil price retreated further from the 11-month high reached last week, as the recent supply-led rally petered out. At the close of local trade, benchmark Brent crude futures quoted 0.18 percent lower at $55.00pb. Crude prices stronger during Asian trade this morning.<\/p>\n<p><b>BUSINESS REPORT<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; South-Africa. JOHANNESBURG &#8211; The rand ebbed, and the dollar retained dominance as traders are looking ahead to this week\u2019s MPC decision announcement and inflation data according to NKC Research. Against consensus (for a hold), we expect a rate cut of 25 bps, while this week will also host the mining and retail sales [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":2714,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[274,315,275],"class_list":["post-2715","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Rand flat ahead of Sarb interest rate decision - South Africa<\/title>\n<meta name=\"description\" content=\"JOHANNESBURG - The rand ebbed, and the dollar retained dominance as traders are looking ahead to this week\u2019s MPC decisio ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-flat-ahead-of-sarb-interest-rate-decision\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rand flat ahead of Sarb interest rate decision\" \/>\n<meta property=\"og:description\" content=\"JOHANNESBURG - 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