Today's Big Stories

Weak rand caused by local and international issues - economist

The weakness of the rand is due to both local and international factors, says Chief Economist at Econometrix Dr Azar Jammine.

There are both international and domestic factors at play here. One should not put all the blame on the threat to arrest Pravin Gordhan.

Dr Azar Jammine, Chief Economist at Econometrix

Jammine explains that inflation in the United States rose faster than anticipated and certain market indicators have performed stronger than expected.

He says the rand has suffered amid speculation that the US could raise interest rates in coming months.

As soon as you have that change of expectations, you see international money flowing out of emerging markets and back into the safe haven of the dollar, which may now start offering interest.

Dr Azar Jammine, Chief Economist at Econometrix

Jammine advises that the rumors of Finance Minister Pravin Gordhan's arrest also affect the economy, particularly at a time when credit rating agencies have placed South Africa under review.

Listen to the full conversation from CapeTalk's Breakfast with Kieno Kammies:


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