Johannesburg — The South African rand was little changed on Monday, ahead of the release of an inflation expectations survey, as investors also awaited the country’s consumer price index (CPI) data and a central bank meeting later this week.
At 0617 GMT, the rand traded at 17.39 against the dollar, a whisker away from Friday’s close.
South Africa’s Bureau for Economic Research will release its third-quarter inflation expectations survey around 0800 GMT, showing how analysts, businesspeople 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 makes interest rate decisions.
The South African Reserve Bank’s next decision will be announced on Thursday, preceded by a consumer inflation report and retail sales data on Wednesday, which are expected to offer clues on the health of Africa’s most industrialised economy.
South Africa’s benchmark 2035 government bond was also little changed in early trading, as the yield rose one basis point to 9.345%.
*Sfundo Parakozov; editing: Bernadette Baum – Reuters
