The rand fell to a 10-day low to the US dollar on Thursday as domestic weakness and global fears continued to weigh on South Africa’s currency, while stronger mining shares sparked a recovery in stocks.
Is the migrant/refugee crisis in Europe having an effect on the rand as well?
The Money Show’s Bruce Whitfield interviewed Kevin Lings, Chief Economist at Stanlib Asset Management.
Scroll down to listen to the audio.
We’re not alone. Most emerging markets and commodity producing countries have currencies that are under pressure.— Kevin Lings
Oil is up and the rand is down. Next month it’s likely that we’ll see a petrol price increase.— Kevin Lings
Inflation will probably breach 6% next year; the Reserve Bank is concerned.— Kevin Lings
The ECB will remain committed to QE and other forms of monetary stimulus at least until September next year.— Kevin Lings
There is no inflation in Europe.— Kevin Lings
The Syrian refugee crisis in Europe can become a problem. It’s testing the resolve of Europe to continue with the Schengen Area.— Kevin Lings
European data is getting slightly better.— Kevin Lings
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