Rand hasn’t crashed yet, but it’s a gloomy picture for consumers – TreasuryONE

The rand slipped to a four-week low with other developing nation currencies earlier this week, ahead of expected interest rate hike announcements by the US Federal Reserve and the Bank of England to tame rampant inflation. Emerging market stocks also suffered their worst day in over three months amid fears that growth will be impeded by renewed lockdowns in China. TreasuryOne’s Andre Cilliers told Biznews that the rand has not crashed or ‘fallen out bed’ and he expects there will be a recovery if the interest rate hike in the United States is moderate. Cilliers said battered consumers could however be in for a nasty surprise at the end of the month and could soon have to pay R1,000 to fill a small car with fuel. – Linda van Tilburg Learn more about your ad choices. Visit megaphone.fm/adchoices