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Question of the Day: Are you watching the Commonwealth Games?
The ZAR Exchange Rate Thread
- Thread starter Robin Hood
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NarrowBandFtw
Honorary Master
sooo, time to place your bets, interest rate announcement today (usually around 15:00?)
- what will the decision be?
- what will the exchange rate do shortly after?
- what will the decision be?
- what will the exchange rate do shortly after?
100 points increase!
Rand will lose value regardless as Zuma will be opening his mouth.
I'm actually not quite sure on this one. The last increase was pretty drastic and had the intended effect of slowing rand depreciation.
But my bet would be on hold - else a symbolic .25% increase.
100 points at this point would guarantee recession and mass defaults on loans.
NarrowBandFtw
Honorary Master
I'll bet on another 50 basis points given the situation has gotten even worse since the last 50 point hike.
ANC will be forgiving loans soon so the defaults will at least be government sanctioned
I'll bet on another 50 basis points given the situation has gotten even worse since the last 50 point hike.
ANC will be forgiving loans soon so the defaults will at least be government sanctioned
Government can't forgive loans they did not make and the banks certainly wont.
Not unless they offer to pay the outstanding amount and there's just no way they can get that kind of money together.
NarrowBandFtw
Honorary Master
Government makes the law, they can do whatever the hell they please e.g. amend the credit act or some such to say any debt larger than x% of the individual's annual income is predatory and therefor illegal. Just spit balling here and I sure hope they don't do it, but look at Zim, nationalizing international corporations, decimating agriculture with large scale land grabs ... don't underestimate what crazy people with legislative powers can do ...
EDIT: I just spotted I may have missed the /sarc or rolling eyes in my initial post, wasn't meant to be taken seriously
Gtx Gaming
Gtx Gaming
Rand recovering now ,interest rates up by 0.25.
NarrowBandFtw
Honorary Master
pity, was betting on 50
You'll get your other 25 next month.
They can't keep it the same. Has to rise by another few percent this year.
NarrowBandFtw
Honorary Master
Wasn't aware of that. So you'll get it in May then.The MPC only meets every second month, if they hike next month, in a non meeting month, the shyte has hit the fan big time
Maybe it will be 50 then.
wizardofid
Honorary Master
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Rand bounced back quite well.....if it breaks 14 I will be well impressed...
Sm00thSm0k3
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Lets hope today will be that day
I think you okes are a bit optimistic...
Sure it was at R15.10 last night but dropping slowly but surely again and now at R15.22.
I'm no expert in these matters but unless you guys know something I don't, I can't see it climbing any further tbh...I'd love to wrong however.
My spending budget for my Thailand trip next month took one hell of knock after #Nenegate so I've been praying ever since for our currency to improve by some margin but it's really not happening.
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I'm no expert so don't ask me why but I have noticed more often than not, it starts to strengthen in the afternoon\evening.
At 15.15 now
if all goes well in the markets today, it should be dropping another few cents at least.Unless Zupta and comrades screws something up again.
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