Despite weakness in the Rand the money market rates for August remained stable. The yield on the fund remained above 10% with money market rates across the yield curve now between 9.25% and 9.7%. Brait's view remains that there needs to be some stability in the Rand before a rate cut can take place.

A further cut of 25 basis points in the prime rate is expected shortly which should put further pressure on the money market rates downwards.