Coalition details won't impact rand much - report
16 August 2016
Cape Town - The formation of political coalitions after the local elections should be concluded this week, but their details would not matter much for the rand, international market research company Citi Velocity said on Monday.
In its view, this is because the rand has already sailed over the "election-hurdle and the next big local hurdle might be the general policy response".
Citi Velocity pointed out that such a general policy response will take some time to come to light, but that some market participants could already be concerned about the cost of “bold actions” as recently indicated by the National Executive Committee (NEC) of the ANC.
The NEC has indicated that it has unanimously agreed to take collective responsibility for the poor performance of the ANC during the elections and resolved to take "immediate and bold actions" to address the weaknesses and shortcomings that led to the decline of electoral support.