Bank of EnglandIn the news
Brent crude opened the week above $108 a barrel, while the rand weakened against major currencies as investors awaited US and South African interest-rate decisions. Analysts warned that sustained high oil prices could add to inflationary pressure.
OIL

Oil prices climb to four-month high as rand gives back recent gains

Oil prices are rising as South Africa’s economy contracts. Could inflation force the Reserve Bank to raise rates?

  • Ashley Lechman
3 min read
South Africa’s economy contracted by 0.2% in the second quarter, while higher oil prices and a weaker rand put further pressure on financial markets and fuel costs.
MARKET ANALYSIS

Monday Markets: R2/litre petrol shock looms in October

Oil is surging, the rand is weakening and motorists could be in for a nasty October surprise.

  • Chris Harmse
4 min read