"The latest headline CPI print corroborates the case for the SARB to remain hawkish next week in an effort to curb inflation," ETM Analytics said in a research note. The government's benchmark 2030 bond was stronger in early deals, with the yield down 14.5 bps to 9.850%. (Reporting by Bhargav Acharya; Editing by Sonia Cheema)
JOHANNESBURG, March 23 (Reuters) - South Africa's rand
strengthened in early trade on Thursday, as the dollar hovered
around seven-week lows after the U.S. Federal Reserve signalled
that its rate hike campaign could be nearing the end.
The Fed on Wednesday raised interest rates by a widely
expected 25 basis points (bps) and indicated it might pause
further increases after the recent collapse of two U.S. banks.
At 0630 GMT, the rand traded at 18.1475 against the
dollar, 0.89% stronger than its previous close.
The dollar index , which measures the currency against
six rivals, was last trading down 0.44% at 101.99.
Headline inflation in South Africa rose slightly in February
to 7% from 6.9% in January, data showed on Wednesday, fuelling
bets that the South African Reserve Bank (SARB) would hike
interest rates by 25 bps at its meeting next week.
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