With the US closed for Thanksgiving, it will be a quiet day for international markets. But it is a busy day in SA, with an interest rate decision, along with results from Tiger Brands, PPC, Stenprop, Freedom Property and Primeserv.

The rand was back comfortably under R14/$, R16/€ and R18/£, with traders appearing to bet Reserve Bank governor Lesetja Kganyago will raise interest rates when he announces the monetary policy committee’s verdict at 3pm on Thursday.

After reaching R13.83/$ on Thursday, the rand was trading at R13.93/$, R15.87/€ and R17.81/£ at 6.20am.

Image: Iress

Of the 21 economists in a Bloomberg survey, 11 forecast the repo rate will be increased by 25 basis points to 6.75%, and the rest predict the rate will stay at 6.5%.

“In November, policymakers are unlikely to vote unanimously. With the retirement of monetary policy committee member Brian Kahn at the end of September, the panel currently consists of six members, which means a 50-50 split of votes is possible,” PwC Strategy& economist Maura Feddersen said in an e-mailed note.

“The relatively subdued inflation outlook and the still weak economy will probably convince the monetary policy committee to delay hiking rates for as long as possible. We forecast that rates will remain unchanged this year, before rising moderately early in 2019,” Nedbank’s economic team said in a note e-mailed on Wednesday.

Tiger Brands warned shareholders on November 9 that it expected to report on Thursday that it expected headline earnings per share (HEPS) for the year to end-September to fall by up to 30%.