{"id":12545,"date":"2012-07-19T00:59:39","date_gmt":"2012-07-18T22:59:39","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/s-african-rand-holds-steady-ahead-of-rate-decision\/"},"modified":"2012-07-19T00:59:39","modified_gmt":"2012-07-18T22:59:39","slug":"s-african-rand-holds-steady-ahead-of-rate-decision","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-african-rand-holds-steady-ahead-of-rate-decision\/","title":{"rendered":"S.African rand holds steady ahead of rate decision"},"content":{"rendered":"

\t\t<\/span><\/p>\n

JOHANNESBURG, July 18<\/span> (Reuters) – South African bond yields
\nremained near record lows on Wednesday amid sustained foreign
\nbuying and the rand held steady in anticipation of a central
\nbank interest rate decision on Thursday.<\/span><\/p>\n

<\/span><\/p>\n

The yield on the 3-year bond rose to 5.765
\npercent, slightly above Tuesday’s record low of 5.72 percent,
\nwhile the 14-year paper was yielding 7.49 percent,
\ncompared to a 3-year low of 7.41 percent earlier in the day.<\/p>\n

<\/span><\/p>\n

The rand was barely changed at 8.1568 to the dollar at 1600
\nGMT after opening the day at 8.1625.<\/p>\n

<\/span><\/p>\n

However, it could weaken temporarily if central bank
\ngovernor Gill Marcus announces a cut in the benchmark repo rate,
\nsaid David Gracey, head of currency and derivatives trading at
\nInvestec.<\/p>\n

<\/span><\/p>\n

“If she cuts we will see a bit of weakness initially,” he
\nsaid. “As more people enter the bond market, you could see the
\nrand strengthen.”<\/p>\n

<\/span><\/p>\n

Jonathan Myerson, head of fixed income at Cadiz Asset
\nManagement, said he expected foreign inflows into South Africa’s
\nbond market to persist, though there could be a slight slowdown.<\/p>\n

<\/span><\/p>\n

“I think there’s good reason for them to continue to buy,
\nclearly not as aggressive as they have over the last six weeks
\nor so,” he said. “I don’t see any major selloff risk.”<\/p>\n

<\/span><\/p>\n

Data released on Wednesday showed South Africa’s consumer
\ninflation slowed more than expected to 5.5 percent year-on-year
\nin June from 5.7 percent in May, while retail sales increased to
\n6.4 percent in May, compared with a revised 1.1 percent in
\nApril.<\/p>\n

(Reporting by Tosin Sulaiman)<\/p>\n

<\/span><\/p>\n

\n

\t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"

JOHANNESBURG, July 18 (Reuters) – South African bond yields remained near record lows on Wednesday amid sustained foreign buying and the rand held steady in anticipation of a central bank interest rate decision on Thursday. The yield on the 3-year bond rose to 5.765 percent, slightly above Tuesday’s record low of 5.72 percent, while the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-12545","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12545","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=12545"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12545\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12545"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12545"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}