South Africa’s rand steady as market awaits rates call

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JOHANNESBURG (Reuters) – South Africa’s rand was flat against the dollar in early Tuesday trade, with dealers and analysts expecting investors to remain cautious before Thursday’s policy rate decision and Moody’s credit rating review the day after.

* At 0645 GMT, rand changing hands at 14.2300 to the greenback, compared with Monday’s close at 14.2100.


* Economists polled by Reuters expect the central bank to hold its repo rate at 7 percent on Thursday even though the Federal Reserve is expected to raise U.S. interest rates in December, which could weaken the rand.

* Stock futures index up 0.9 percent, suggesting the Johannesburg market will start the week on a strong note at 0700 GMT.

* Government bonds rise slightly in early trade, yield for 10-year debt down 1.5 basis points to 8.96 percent compared with Monday’s close.


(Reporting by Stella Mapenzauswa, editing by Larry King)


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