Rand and JSE firm ahead of medium-term budget speech

The rand strengthened below R18 to the dollar on Tuesday, while the JSE was firmer along with its global peers as strong corporate earnings in the US supported sentiment.

Locally, investors are waiting for finance minister Enoch Godongwana’s medium-term budget policy statement (MTBPS) on Wednesday afternoon. Economists expect the government to stick to a conservative fiscal policy as economic growth is expected to remain weak in the coming years and global financing conditions are tightening…