Market News
South African rand stable before mining data and inflation survey - REUTERS
JOHANNESBURG, Sept 12 (Reuters) - The South African rand was little changed in early trade on Thursday ahead of the release of local mining output figures and an inflation expectations survey.
At 0600 GMT the rand traded at 17.8925 against the dollar , not far from its previous close of 17.9050.
The rand has mainly tracked global markets this week, including closely watched U.S. inflation data and its implications for next week's Federal Reserve meeting, but that could change on Thursday.
South Africa's Bureau for Economic Research will release its third-quarter inflation expectations survey around 0800 GMT, showing how analysts, business people and trade union officials expect inflation to develop over the next three years.
Inflation expectations are an important data point for the central bank when it takes interest rate decisions. Its next decision is due to be announced on Sept. 19, with economists widely predicting the first rate cut in more than four years.
Statistics South Africa will publish July mining production numbers (ZAMNG=ECI) at about 0930 GMT. Analysts polled by Reuters predict output will return to year-on-year growth after a decline in June, reflecting volatile conditions in Africa's most industrialised economy. South Africa's benchmark 2030 government bond was relatively flat, with the yield at 8.995%.
