Zar news
ZAR (South African Rand) news! Here are some recent updates:
Currency News
- The South African Reserve Bank (SARB) kept interest rates unchanged at 3.5% in its latest monetary policy decision, citing a stable inflation outlook and a moderate economic growth forecast. (Source: Bloomberg)
- The ZAR has been trading relatively stable against the US dollar, with a slight appreciation in recent weeks. This is attributed to a stronger-than-expected GDP growth rate and a decrease in inflation expectations. (Source: Reuters)
Economic News
- South Africa's economy grew by 0.8% in the third quarter of 2022, exceeding expectations and marking a rebound from a contraction in the previous quarter. (Source: Trading Economics)
- The country's unemployment rate remains a concern, with the latest data showing a rate of 32.6% in the third quarter of 2022. (Source: Statistics South Africa)
Commodity News
- South Africa is the world's largest producer of platinum, and the metal's price has been volatile in recent weeks. The price of platinum has risen due to supply chain disruptions and strong demand from the automotive industry. (Source: Kitco)
- The country is also a significant producer of gold, and the price of gold has been trending upwards due to inflation concerns and central banks' purchases of the metal. (Source: Bloomberg)
Other News
- South Africa's government has announced plans to increase its spending on infrastructure development, including roads, railways, and ports, to boost economic growth and create jobs. (Source: Business Day)
- The country is also working to improve its business environment, with the government introducing reforms to simplify regulations and reduce bureaucracy. (Source: World Bank)
These are just a few of the latest news updates related to the South African Rand and the country's economy. If you have any specific questions or would like more information, feel free to ask!