The South African rand slipped on Tuesday, after China's central bank surprisingly cut key policy rates to boost a sputtering economic recovery in South Africa's biggest trading partner.
Analysts polled by Reuters had predicted the official unemployment rate would come in at 32.9%, the same as in the first quarter.
"Although it has improved moderately from levels recorded during the pandemic, it remains at an elevated level," said Investec analyst Lara Hodes.ending over 0.8% lower. South Africa's benchmark 2030 government bond was also weaker, the yield up 2.5 basis points at 10.355%.Our Standards:
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