The stabilisation of the bond market over the last two months has led to the Reserve Bank tapering off its bond purchases in the secondary market, but the possibility of future risks means the programme has to remain open, analysts said on Monday.

The medium-term budget policy statement, which will be tabled by finance minister Tito Mboweni in October, is one such possible risk, while global events could also have a negative effect on the bond market, RMB investment strategist Elena Ilkova said.

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