Narrowing of the deficit suggests the country is less vulnerable to changes in foreign investor sentiment, says Kevin Lings
SA’s current account deficit has been a key factor in why the Reserve Bank has remained cautious about cutting interest rates, despite SA inflation remaining well under control, according to Lings. A sharp reduction in SA interest rates could make it more difficult for SA to attract the foreign investment required to fund the deficit.
But the spread of the virus meant the rand remains vulnerable to changes in global risks, noted Lings.
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