{"id":9247,"date":"2012-03-24T03:25:24","date_gmt":"2012-03-24T01:25:24","guid":{"rendered":"http:\/\/www.myza.co.za\/03\/s-africas-rand-steadies-after-losses-bonds-extend-gains\/"},"modified":"2012-03-24T03:25:24","modified_gmt":"2012-03-24T01:25:24","slug":"s-africas-rand-steadies-after-losses-bonds-extend-gains","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-steadies-after-losses-bonds-extend-gains\/","title":{"rendered":"S.Africa’s rand steadies after losses, bonds extend gains"},"content":{"rendered":"

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

* Market looks to rate call decision next week<\/span><\/p>\n

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

* Rand on track for weekly loss of nearly 2 percent<\/p>\n

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

JOHANNESBURG, March 23<\/span> (Reuters) – South Africa’s rand was
\non track for its biggest weekly loss since mid-December on
\nFriday as the local market scales back expectations of higher
\ndomestic rates this year.<\/p>\n

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

Government bonds strengthened further, pushing yields lower,
\nafter consumer inflation came in less than expected this week,
\nsuggesting the Reserve Bank will have leeway to keep rates at
\ntheir lowest level in 30 years for longer.<\/p>\n

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

All 24 economists polled by Reuters on Friday expect the
\nReserve Bank’s Monetary Policy Committee to keep the key repo
\nrate unchanged at 5.5 percent next Thursday, with 12 seeing no
\nchange throughout 2012.<\/p>\n

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

After losses earlier in the week, the rand was largely
\nsteady against the dollar in quiet Friday trade, down 0.12
\npercent at 7.7215 to the dollar at 1618 GMT.<\/p>\n

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

A close at these levels would shave nearly 2 percent off the
\nlocal currency’s value this week, reversing some of its recent
\ngains.<\/p>\n

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

“A lot of the rand’s gains last week were based on the
\nhawkish message from (central bank Governor Gill) Marcus, but
\nsince the February CPI release, markets are less certain that a
\nrate hike will be delivered at the end of the year,” said
\nChristopher Shiells, emerging market analyst at Informa Global
\nMarkets.<\/p>\n

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

Markets moved to price in a higher chance of a rise in rates
\nafter Marcus said last week inflation pressures were becoming
\nmore generalised, with more evidence of pressure from the
\ndemand-side of the economy.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

* Market looks to rate call decision next week * Rand on track for weekly loss of nearly 2 percent JOHANNESBURG, March 23 (Reuters) – South Africa’s rand was on track for its biggest weekly loss since mid-December on Friday as the local market scales back expectations of higher domestic rates this year. Government bonds […]<\/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-9247","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\/9247","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=9247"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9247\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=9247"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=9247"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=9247"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}