JOHANNESBURG (Reuters) -The South African rand was little changed on Monday as traders looked to this week’s local data releases for further clues on the health of Africa’s biggest economy.
Those releases include a leading business cycle indicator, the producer price index and the central bank’s quarterly bulletin.
The rand traded at 17.33 against the dollar by 0825 GMT, within touching distance of Friday’s close.
The currency has held steady since last week’s decision by the South African Reserve Bank (SARB) to maintain its main lending rate at 7%, taking a cautious stance despite consumer inflation looking under control.
Nedbank economists expect the central bank’s quarterly bulletin to report improvement in household finances in the second quarter after they deteriorated in the first three months of the year.
“The boost will come from higher wages and subdued inflation, which will support disposable income, while lower interest rates will ease debt burdens,” Nedbank said in a research note.
Economists polled by Reuters expect year-on-year producer inflation of 1.5% for August, unchanged from July.
The Johannesburg Stock Exchange’s Top-40 index was also little changed on Monday.
The benchmark 2035 government bond strengthened, with the yield down 3.5 basis points at 9.13%.
(Reporting by Anathi MadubelaEditing by Alexander Winning and David Goodman)
