South African rand steady before interest rate decision, PPI data
JOHANNESBURG, May 29 (Reuters) - The South African rand was steady in early trade on Thursday, ahead of a much-anticipated interest rate decision by the South African Reserve Bank (SARB) and monthly producer inflation figures.
At 0702 GMT, the rand traded at 17.92 against the dollar , little changed from Wednesday's closing level.
Statistics South Africa will publish April domestic producer inflation figures at 0930 GMT, and Nedbank economists said in a research note that they expect it to have remained steady at 0.5%.
Investor attention will be pinned on an interest rate decision by the central bank expected around 1300 GMT.
The majority of economists polled by Reuters expect the bank to trim its main lending rate (ZAREPO=ECI), opens new tab by 25 basis points, though a significant minority think the rate could be left unchanged.
Inflation (ZACPIY=ECI), opens new tab is currently below the central bank's target range, though policymakers have stressed risks from U.S. President Donald Trump's trade war and domestic politics.
"The upside risks to the outlook have subsided since the March meeting," the Nedbank note said.
South Africa's benchmark 2030 government bond was also little changed in early deals, with the yield at 8.78%.
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The Guardian
an hour ago
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The Independent
an hour ago
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