Now there’s another reason for this Rand rally. In fact, the Rand was at a three month high before this news broke. There are increasing bets that the United States will cut borrowing costs this month for the first time in more than 10 years. The Federal Reserve Chairperson, Jerome Powell, has set the stage. He’s pledged to appropriately defend an economic expansion threatened by trade disputes and a global slowdown. The world’s most powerful central banker emphasised on the global weakness that was clouding the U.S. economic outlook.
He was giving testimony to a congressional committee in Washington. To discuss we’re joined by Owen Nkomo, Chief Investment Officer at Inkunzi Wealth Group.
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