South African government bonds were weaker on Wednesday morning, brushing off a slightly positive inflation print for April.Inflation, measured by the annual change in the consumer price index came in at 4.5% in April, slightly below the 4.7% Trading Economics consensus forecast.The figures come ahead of a Reserve Bank monetary policy decision on Thursday, where the Bank is widely expected to keep rates on hold. Many analysts have also predicted a somewhat hawkish stance from the Bank, due to the recent weakening of the rand, rising oil prices, and global political risks among other factors.Globally on Wednesday, emerging-market currencies and bonds are taking most of their direction from the dollar and US treasuries. The recent dollar rally stalled somewhat on Tuesday, but analysts pointed to the forthcoming US Federal Reserve minutes later on Wednesday as an event to watch.The political situation in Turkey, where there are threats of executive interference in monetary policy, was ...
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