The retail sales data released yesterday is good news for
many. Data revealed that retail sales figures were up and inflation down, thus
inflation ought to remain below the 6% mark for the next few months. The
USD-ZAR is expected to trade at 9.15-9.2500.
Figures released on Wednesday showed better than expected
retail sales. The figures suggest that the anticipated slowdown in consumer
spending may not be as severe as was expected. Retail sales are an important
contributor to consumer spending patterns. The sector contributes roughly 14%
to the total value added to domestic growth.
The long term effects of interest rates close to zero have
become a growing concern at the International Monetary Fund (IMF) as some of
central banking’s leaders confessed that they are in uncharted water in
managing their economies.
To read the full report, visit the Currency Solutions
website. Transferring funds out of South Africa/Money transfers into South
Africa – Let one of our professional consultants at Currency Solutions assist
you. To know more about how we can help you Contact Us.
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