May 2017: South African Reserve Bank
In its Financial Stability Review of 2 May, the South African Reserve Bank sights the probability of further downgrades to South Africa’s credit ratings. This may weaken the currency and lead to higher borrowing costs. In April the sovereign credit rating was cut to junk (debt “non-investment grade” or “speculative”) by both S&P Global Ratings and Fitch Ratings Ltd. Having South … more