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Markets WRAP: Rand closes at R13.88/$. averages between R13.73 and R13.90
November 23, 2018--The rand firmed by just under 1% on Friday, holding on to its gains after the interest rate announcement on Thursday.
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Source: FIN24
Flat trading session for the JSE as central bank raises rates
November 22, 2018--The central bank decided to hike the repo rate by 25 basis points from 6.50% to 6.75% as the bank sees inflationary pressures for 2019.
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Source: FIN24
SA Reserve Bank raises repo rate to 6.75%
November 22, 2018--Governor of the SA Reserve bank Lesetja Kganyago has announced that the bank will raise the repo rate to 6.75% from 6.5%.
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Source: FIN24
Markets WRAP: Rand closes at R14.09/$, day's range between R13.98 and R14.17
November 20, 2018--The rand struggled to maintain a level below R14/$.
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Source: FIN24
JSE inches higher as global equities remain mixed
October 19, 2018--The JSE inched higher as global equities were relatively mixed after Donald Trump's recent statement on Chinese tariffs, writes Musa Makoni of Purple Group.
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Source: FIN24
Markets WRAP: Rand closes at R14.01/$, with the day's range between R13.92 and R14.06
November 19, 2018--The rand held onto its gains for most of the day.
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Source: FIN24
Zimbabwe: Does Bitcoin Mining Fuel Climate Change?
November 19, 2018--Acommon mainstream media narrative is how bitcoin mining consumes a lot of coal-generated electricity, thereby fuelling climate change. Much less is said about electricity usage involving legacy, monopoly financial institutions like commercial banks.
This bias is confirmed by a recent study that has received worldwide coverage from an equally conflicted Press. In the study, researchers at University of Hawaii at Manoa examined how the rapid increase in the use of cryptocurrency like bitcoin would harm the climate.This bias is confirmed by a recent study that has received worldwide coverage from an equally conflicted Press. In the study, researchers at University of Hawaii at Manoa examined how the rapid increase in the use of cryptocurrency like bitcoin would harm the climate.
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Source: allafrica.com
South Africa: Staff Concluding Statement of an IMF Staff Visit
November 19, 2018--Following the leadership transition, the government stepped up its efforts to improve governance and enhance the dialogue with the private sector, but reform implementation has faced headwinds.
Markets reacted favorably to the government's efforts aimed at fostering an environment more conducive to private investment, growth, job creation, and social inclusion.
However, some of the initial optimism has dissipated as growth remains stuck in low gear and reform implementation has faced constraints. Economic reforms in a number of areas, in particular, strengthening the finances of state-owned enterprises (SOEs), reducing the cost of doing business, and increasing competition are proceeding, albeit slowly. The recent investment conference between government and businesses--domestic and international--on unlocking the vast investment opportunities is welcome.
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Source: IMF
Markets WRAP: Rand strengthens by over 1% against dollar in afternoon trade
November 16, 2018--After weakening against the greenback in the early afternoon, the rand strengthened in the late afternoon to trade at R14/$.
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Source: FIN24
