Cape Town - Inflation decreased for the third month in a row in June, with the annual consumer price index (CPI) falling to 5.1% after a drop to 5.4% in May, Statistics SA announced on Wednesday.
"This is the third month in a row that we are back within the inflation target band," TreasuryOne said in reaction on Wednesday. "All eyes will be on the SA Reserve Bank's monetary policy committee tomorrow (on Thursday) to see if they make a move on interest rates."
The rand was 0.43% weaker against the dollar on Wednesday, trading at R12.95 against the greedback. It had earlier traded at a low of R12.89/$.