South African bonds were unchanged on Wednesday morning as investors awaited the release of consumer price index (CPI) data.Economists forecast that inflation for July would ease to below 4.6% from 5.1% in June. Lower food and transport costs are expected to contribute to easing inflation. FXTM analyst Jameel Ahmad expected the inflation data to influence SA’s monetary policy, with easing inflation possibly convincing the Reserve Bank to cut rates in September."Confirmation [a few months ago] that SA [was in] a technical recession … justifies the need to discuss the possibility of lower interest rates," said Ahmad.At 9.04am the benchmark R186 government bond was unchanged at 8.52%.
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