Rand firmer as traders mull Chinese rate cuts
26 August 2015 - 12:59
The rand was firmer against major currencies on Tuesday morning as investors continued to digest news of a rate cut in China. The People’s Bank of China (PBoC) delivered a surprise 25 basis point cut in interest rates to 4.6% on Tuesday as well as a 50 basis point cut in the amount of cash banks have to hold in reserve (reserve-requirement ratio).
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