South Africa’s Central Bank Turns Dovish, Sending the Rand Toward 17 per Dollar

Currency · South Africa Key Facts —The turn. The South African Reserve Bank (SARB) struck an unexpectedly dovish tone at its July meeting. —The rate. The bank held its key repo rate at 7.0% while signalling a softer path ahead. —The rand. The currency weakened, with the dollar climbing from below 16.50 rand toward the…