South African rand little changed; CPI data in focus
JOHANNESBURG, Oct 23 (Reuters) -The South African rand was little changed in early trade on Wednesday, before the release of local consumer inflation figures that will be the main focal point for the day's trading.
At 0535 GMT, the rand traded at 17.5425 against the U.S. dollar ZAR=D3, down less than 0.1% on Tuesday's closing level.
Statistics South Africa will release September Consumer Price Index (CPI) data around 0800 GMT.
Economists polled by Reuters predict that annual inflation ZACPIY=ECI fell to 3.9% last month, well below the 4.5% level the central bank aims for.
A further drop in inflation, from 4.4% in August, could encourage the South African Reserve Bank to deliver another interest rate cut at November's monetary policy meeting, after its first cut ZAREPO=ECI in more than four years last month.
South Africa's benchmark 2030 government bond ZAR2030= was marginally stronger in early deals, with the yield down 2 basis points to 9.325%.
Reporting by Alexander Winning; Editing by Savio D'Souza
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