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The rand steadied in opposition to the greenback in early commerce on Wednesday, as buyers awaited native inflation information and retail gross sales numbers a day earlier than the central financial institution broadcasts its interest-rate determination.
At 0603 GMT, the rand traded at R15.92 in opposition to the greenback, not removed from its earlier shut of R15.91.
Statistics South Africa will publish April shopper value inflation information at 0800 GMT, with a Reuters ballot displaying the year-on-year CPI print is anticipated to stay at a five-year excessive of 5.9%, simply inside the central financial institution’s 3%-6% goal vary.
The statistics company will publish March retail gross sales numbers at 1100 GMT, with a financial coverage determination by the South African Reserve Financial institution due on Thursday.
A Reuters ballot revealed on Friday forecast the financial institution would make its first 50 basis-point repo fee hike in additional than six years, taking it to 4.75%, to forestall potential second-round results from increased shopper costs.
In fastened revenue, the yield on the benchmark 2030 authorities bond was flat at 10.0%.
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