South African bonds were flat shortly before midday on Thursday, as market focus shifted to data released today, including minutes from the European Central Bank (ECB) policy meeting for July. Local markets would be driven by global sentiment, as investors wait for the ECB minutes and data releases on Thursday, said Rand Merchant Bank analyst Isaah Mhlanga, noting that sentiment looked positive for risk assets. Eurozone consumer inflation data is also expected later today, which will be closely watched for signs as to when monetary policy tightening in Europe will begin. Minutes from the US Federal Reserve last policy meeting indicated that Fed officials were divided over the timing of future rate increases, as they struggled to understand why inflation had been so weak in recent months, reported Dow Jones Newswires. The dovish minutes resulted in a further fall in expectation of a third interest-rate increase this year by the US central bank, which weakened the dollar and improved ...
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