Market News
South African rand stable as traders wait for interest rate decision - CNBC
Sfundo Parakozov
JOHANNESBURG, May 28 (Reuters) – The South African rand was flat in early trade, as traders held off from big bets before the central bank’s interest rate decision on Thursday.
At 0645 GMT, the rand traded at 17.9725 against the dollar, a whisker away from Tuesday’s closing level.
The South African Reserve Bank will announce its latest monetary policy decision at around 1300 GMT on Thursday.
The majority of economists polled by Reuters expect the bank to trim its main lending rate by 25 basis points, though a significant minority think the rate could be left unchanged.
Inflation 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.
South Africa’s benchmark 2030 government bond was slightly weaker in early deals, with the yield up 2 basis points to 8.86%.
(Reporting by Sfundo Parakozov; Editing by Alexander Winning and Rachna Uppal)
