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mullet_fish
Regular Contributor
Looks like R13 to the dollar is coming fast! Low value exports , big import bill ; Interest rates need to rise quickly to "stabilise".
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Not much that can be done by raising interest rates, I don't think. With our inflation rate differential - 6% vs 2% in US, and lower even in Europe, a 4% raise might make a difference - but given the current interest rate differential, it seems that this is having no effect. Now take public debt into account -currently at 48% GDP, and with the ANC planning on borrowing massive undisclosed amounts for nuclear power stations, I would say we are going to lucky to settle on R13 to the dollar.
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