The European Central Bank cut all three of its interest rates and expanded its asset-buying program.
The rand responded by rallying to its best level to the dollar since December 16.
The Money Show’s Bruce Whitfield interviewed Busisiwe Radebe, an economist at Nedbank.
Scroll down for quotes from the audio below.
The ECB is flooding the market with cheap money.— Busisiwe Radebe
The fundamentals are still weak.— Busisiwe Radebe
We think the rand will average R16.68 to the dollar for the year, but only if we don’t get downgraded.— Busisiwe Radebe
If we’re downgraded the rand could go to R19 to the dollar.— Busisiwe Radebe
The rand might strengthen in the short-term to R14 to the dollar.— Busisiwe Radebe
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