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Article: South Africa: Soaring Oil Prices Raise Fear Over Growth, Rates.
- Article from:
- TendersInfo
- Article date:
- June 9, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: shahma05
MARKETS are braced for a tough few days this week, with the oil price heading towards $150 a barrel and the Reserve Bank's monetary policy committee primed to deliver further bad news in the form of an expected interest rate hike.
Oil reached a record high of $139,12 a barrel on Friday in New York trade, reinforcing concern among world leaders and market analysts that the rising price will slow global economic growth even further.
Raymond Goss, joint head of the Johannesburg office of Investec Securities, said today was "going to be a hard day for the market all around" and that the JSE would "take its lead" from the closing US ...