In line with the unanimous consensus, analysts at TD Securities expect the SARB to keep its policy rate on hold at 6.5% today. Key Quotes “Since the May MPC meeting the news on the inflation front has been mixed. Actual CPI inflation prints have been better than the SARB was expecting in May. Headline inflation averaged 4.5% in Q2 and core averaged 4.4%, below the May SARB forecasts of 4.9% and 4.6%% respectively.” “On the other hand, since the May meeting the rand has weakened by about 6% against the US dollar and by about 4% on a trade-weighted basis. That said, the MPC can take a bit of comfort from the fact that global oil prices have weakened and that, in rand terms Brent crude is slightly down, by about 2%.” “Still, we think the overall tone will be one of caution with the MPC concerned, among other things, about the possibility of further rand weakness resulting from adverse global developments.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD Technical Analysis: Sterling trapped on the bottom ahead of UK Retail Sales FX Street 5 years In line with the unanimous consensus, analysts at TD Securities expect the SARB to keep its policy rate on hold at 6.5% today. Key Quotes "Since the May MPC meeting the news on the inflation front has been mixed. Actual CPI inflation prints have been better than the SARB was expecting in May. Headline inflation averaged 4.5% in Q2 and core averaged 4.4%, below the May SARB forecasts of 4.9% and 4.6%% respectively." "On the other hand, since the May meeting the rand has weakened by about 6% against the US dollar and by about 4% on a trade-weighted basis.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
