The South African rand dipped on Wednesday after data showed local inflation fell more than expected in June, but moves were slight as traders held off from big bets before Thursday's interest rate announcement.
Casey Delport, an investment analyst at Anchor Capital, said the rand would probably hover around its current value until the interest rate announcement.
"Markets are in a bit of a 'wait and see' phase," she said, adding that Anchor Capital expected the South African Reserve Bank to raise rates by 25 basis points given ongoing rand risks and inflation expectations still exceeding the bank's preference.was last flat on Tuesday's close. South Africa's benchmark 2030 government bond was firmer, as the yield fell 5 basis points to 10.275%.
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