Photo illustration of South African bank notes displayed next to the American dollar notes in Johannesburg
South African rand flat as central bank seen holding key rate
JOHANNESBURG (Reuters) - South Africa's rand was little changed on Thursday, ahead of the central bank's monetary policy decision later in the day where economists expect it to keep the key rate unchanged.
* The rand was trading at 14.6900 versus the U.S. dollar at 0625 GMT, less than 0.1% stronger than its previous close.
* The South African Reserve Bank (SARB) was seen keeping the repo rate at 6.5% in a decision expected around 1300 GMT, according to the majority of analysts polled by Reuters this month.
* South Africa's inflation outlook has been relatively benign, with price rises well within the SARB's 3%-6% target range. But economic growth this year has been sluggish.
* Future rate cuts could hinge on an important credit rating review in November, a Reuters poll found.
* Government bonds dipped slightly in early trade, with the yield on the 2026 bond up 4 basis points to 8.25%.
(Reporting by Alexander Winning; editing by Uttaresh.V)
© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.