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SAGBs Trade Weaker Ahead of SARB Meeting

SOUTH AFRICA

SAGBs have started the session on a weak footing ahead of today's SARB monetary policy decision. The longer end of the curve is underperforming, with the 15-year benchmark yield up 10.3bp and leading the sell-off.

  • No change in monetary policy is expected today, with the consensus expecting the policy rate to remain at 3.50%. The recent moderation in headline inflation will provide some pause for thought for the board, although the global inflation risk theme will continue to feature prominently.
  • Please see online for MNIs SARB Preview.

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