, Statistic South Africa data showed on Wednesday, but remained within the central bank's target range of 3% to 6%.
Analysts said after the CPI release that they still expected interest rates to be left unchanged on Thursday. "We doubt that this will prompt the South African Reserve Bank to restart its tightening cycle tomorrow," Jason Tuvey, emerging markets economist at Capital Economics, wrote in a research note.
The U.S. Federal Reserve is due to announce its main interest rate decision later on Wednesday. It is widelyFocus will be on the Fed's tone and economic forecasts, RMB analysts said in a note, adding that a hawkish tone would weaken the rand.1.8% year-on-year in July after declining by a revised 1.8% in June.
Source: Loan Digest (loandigest.net)
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