{"id":10836,"date":"2012-05-29T22:16:16","date_gmt":"2012-05-29T20:16:16","guid":{"rendered":"http:\/\/www.myza.co.za\/05\/rand-steady-vs-dlr-cbank-says-economic-outlook-modest\/"},"modified":"2012-05-29T22:16:16","modified_gmt":"2012-05-29T20:16:16","slug":"rand-steady-vs-dlr-cbank-says-economic-outlook-modest","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/rand-steady-vs-dlr-cbank-says-economic-outlook-modest\/","title":{"rendered":"Rand steady vs dlr, cbank says economic outlook modest"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand ends nearly unchanged, better GDP gives slight lift<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Central bank: financial shocks from global uncertainty<br \/>\nhigh<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> May 29 (Reuters) &#8211; South Africa&#8217;s rand held<br \/>\nsteady against the dollar on Tuesday after getting a mild lift<br \/>\nfrom better than expected economic growth data for the first<br \/>\nquarter, while analysts say the local unit will stay below 8.45<br \/>\nfor the short term.<\/p>\n<p><span><\/span><\/p>\n<p>The central bank&#8217;s Deputy Governor Daniel Mminele reiterated<br \/>\nat the bank&#8217;s monetary policy review that it was monitoring<br \/>\nunsecured lending in the banking sector but was as yet not<br \/>\nalarmed by its rapid growth.<\/p>\n<p><span><\/span><\/p>\n<p>The rand was at 8.35 to the dollar at 1500 GMT, not<br \/>\nfar off Monday&#8217;s 8.3475 close in New York. Dealers say the<br \/>\n8.20-8.45 range looks to be where the rand will trade for the<br \/>\nnext few sessions until a fresh wave of risk aversion that could<br \/>\npush it through 8.45.<\/p>\n<p><span><\/span><\/p>\n<p>The currency firmed slightly after first quarter economic<br \/>\ngrowth beat market expectations, suggesting growth in 2012 may<br \/>\nnot be as weak as current market projections. GDP growth slowed<br \/>\nto 2.7 percent on a quarter-on-quarter basis but surprised<br \/>\neconomists, who had been expecting only 2.4 percent.<\/p>\n<p><span><\/span><\/p>\n<p>The central bank in its bi-annual review of monetary policy<br \/>\nlate on Tuesday said it expected a gradual recovery in domestic<br \/>\ndemand and supply and said the economic outlook remained modest.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Increased uncertainty regarding Europe and associated<br \/>\nglobal financial market turbulence has impacted on the perceived<br \/>\nrisks to the outlook for both domestic inflation and growth,&#8221;<br \/>\nthe South African Reserve Bank said in a statement.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The probability of future growth and financial shocks<br \/>\nemerging from global developments remains high.&#8221;<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Rand ends nearly unchanged, better GDP gives slight lift * Central bank: financial shocks from global uncertainty high JOHANNESBURG May 29 (Reuters) &#8211; South Africa&#8217;s rand held steady against the dollar on Tuesday after getting a mild lift from better than expected economic growth data for the first quarter, while analysts say the local [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-10836","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10836","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=10836"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10836\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=10836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=10836"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=10836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}