Rand shrugs off downgrade but SA should still be worried

South African government bonds weakened earlier after S&P Global Ratings on Friday downgraded the country’s local currency debt to sub-investment grade, while foreign currency debt was pushed deeper into “junk” territory. Moody’s decision to only place South Africa on review for downgrade had brought some relief to the currency but the country’s next even risk is remains the ANC December elective conference. Joining CNBC Africa to discuss the impact of South Africa’s recent credit ratings downgrade and the impact this will have on the wider economy and retail facing stocks are Annabel Bishop, Chief Economist, Investec, Lesiba Mothata, Executive Chief Economist at Alexander Forbes and Michael Treherne, Portfolio Manager, Vestact.

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