Free Trial

Local Press Looks for ZAR Strength, Lower Rates in 2024

SOUTH AFRICA
  • News24 run a front page piece on 'what to expect from the rand in 2024', citing various analyst views. They subhead with 'some economists expect the rand will end 2024 stronger than it is currently'. Analyst consensus looks for 18.3250 for year-end USD/ZAR, but estimates range from 16.00 to 20.40.
  • Moneyweb flag the dependencies of 2024 economic performance on exports, consumer spending and investment, while writing that there are signs that inflation is easing, and is now within the SARB target range. As such, interest rates may have peaked and could begin easing later in the year.
  • Money supply data out earlier today showed M3 rising by 5.46% (Prev. 6.08%). Meanwhile, private sector credit rose 3.84% (Prev. 3.94%). Trade balance and monthly budget balance data are due later this morning.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.