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South African rand flat as central bank seen holding key rate

Thu, 19th Sep 2019 08:05

JOHANNESBURG, Sept 19 (Reuters) - South Africa's rand waslittle changed on Thursday, ahead of the central bank's monetarypolicy decision later in the day where economists expect it tokeep 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 previousclose.

* The South African Reserve Bank (SARB) was seen keeping therepo rate at 6.5% in a decision expected around1300 GMT, according to the majority of analysts polled byReuters this month.

* South Africa's inflation outlook has been relativelybenign, with price rises well within the SARB's 3%-6% targetrange. But economic growth this year has been sluggish.

* Future rate cuts could hinge on an important credit ratingreview in November, a Reuters poll found.

* Government bonds dipped slightly in early trade, with theyield on the 2026 bond up 4 basis points to 8.25%.(Reporting by Alexander Winning; editing by Uttaresh.V)

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