USD/ZAR to plummet toward 15.00 by end-2023 – SocGen USDZAR Banks
“Despite the heightened political uncertainties, we remain positive on the ZAR. The re-opening of China and broader USD depreciation should deflate USD/ZAR in our view towards 15.00 by end-2023.”
“Headline inflation peaked five months ago but remains above the target range of 3-6%. We expect the central bank to slow the pace of tightening and deliver two more hikes of 50 bps in 1Q23 to 8%. Rates are likely to stay at this level until the end of 2023.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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