The South African Rand held steady on Thursday after the Finance Ministry scrapped a controversial VAT hike set for May.

The rate stays at 15%, offering some relief to investors ahead of the delayed national budget.

Globally, markets are watching for signs of easing tensions between the US and China, while the IMF has downgraded its growth forecast for Africa, citing multiple shocks.

To unpack these market moves, is Chantal Marx, Head of Investment Research at FNB Wealth and Investments..