Emerging Carry Trade Rebounds With Real, Rand Among Favorites

South Africa's monetary policy committee kept the benchmark interest rate unchanged at 6.75%, as announced by Governor Lesetja Kganyago in Pretoria. The decision signals a steady policy stance and is mainly relevant for local rates, the rand, and broader emerging-market assets. No new guidance or surprise was reported.

Analysis

South Africa's monetary policy committee kept the benchmark interest rate unchanged at 6.75%, as announced by Governor Lesetja Kganyago in Pretoria. The decision signals a steady policy stance and is mainly relevant for local rates, the rand, and broader emerging-market assets. No new guidance or surprise was reported.