Bonds gain, rand weakens after rate cut
South African government bond yields fell and the rand weakened against the dollar after the Reserve Bank cut its key repo rate from 5.5 percent to 5 percent on Thursday, citing a weak economic outlook.
The yield on the 2026 bond declined to 7.370 percent from 7.445 percent just before Governor Gill Marcus made the announcement, while that on the 2015 bond edged lower to 5.710 percent from 5.730 percent previously.
The rand fell to 8.2050 percent against the dollar from 8.1525 percent beforehand. - Reuters