The rand has been under pressure following contradictory statements from the ANC about the role of the Reserve Bank.
File: At 9.40am the rand was 0.24-percent down at R14.4818/$, 0.19-percent lower at R16.1466/€ and 0.25-percent weaker at R18.6832/£.JOHANNESBURG - The rand has been under pressure following contradictory statements by the ANC about the role of the Reserve Bank.
The benchmark R186 government bond had weakened, with its yield rising 6.5 basis points to 8.49%. Bond yields move inversely to bond prices.role of the Reserve BankANC secretary-general Ace Magashule said on Tuesday that the governing party wanted to expand the mandate of the central bank and to explore quantitative easing.
“The recent rand performance and bond curve steepening are immediate indicators of this anxiety, although the real damage is being done in the primary industries where capital investment is tentative.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ANC bombs on Reserve Bank add to rand woesANC secretary-general Ace Magashule says party will also explore quantitative easing to deal with debt
Read more »
ANC bombs on Reserve Bank add to rand woesANC secretary-general Ace Magashule says party will also explore quantitative easing to deal with debt
Read more »
Rand is volatile after Reserve Bank politickingThe rand bucked a trend of firmer emerging-market currencies on Wednesday, weighed down by uncertainty over the Reserve Bank
Read more »
Rand sinks to 1-week low amid row over reserve bank roleThe rand continued to weaken against the dollar on Wednesday, sliding to a fresh one-week low, weighed down by a squabble between the ANC and government over the mandate of the central bank.
Read more »
Rand weakens further as ANC ‘plays politics’The local currency remains under pressure after the governing party says it wants to expand the mandate of the Reserve Bank
Read more »
Rand hits eight month low as domestic uncertainty intensifiesThe rand has been under pressure following contradictory statements by the ANC about the role of the Reserve Bank
Read more »