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Rand steady ahead of rates decision

Johannesburg - The rand was largely flat against the dollar in early trade on Monday, with traders expecting it to take its cue mainly from global market trends ahead of local CPI data and an interest rate decision later in the week.

Economists polled by Reuters last week expected consumer inflation to remain unchanged at 5.9% when Statistics South Africa releases October data on Wednesday, staying within the South African Reserve Bank's 3% to 6% target band.

The Reserve Bank is likely to keep interest rates stable at 5.75% when it concludes its last policy meeting of the year on Thursday, the survey also found.

The rand was at R11.0880 against the dollar at 08:41, barely moved from where it ended Friday's session in New York.

In fixed income, the yield for the benchmark government bond maturing in 2026 fell 5 basis points to 7.835%.

ALSO READ:JSE week ahead: All eyes on rates announcement


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Rand - Dollar
18.94
-0.2%
Rand - Pound
23.91
-0.1%
Rand - Euro
20.43
+0.2%
Rand - Aus dollar
12.34
+0.1%
Rand - Yen
0.13
-0.2%
Platinum
910.50
+1.5%
Palladium
1,011.50
+1.0%
Gold
2,221.35
+1.2%
Silver
24.87
+0.9%
Brent Crude
86.09
-0.2%
Top 40
68,346
+1.0%
All Share
74,536
+0.8%
Resource 10
57,251
+2.8%
Industrial 25
103,936
+0.6%
Financial 15
16,502
-0.1%
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