South African Rand Little Changed After CPI Data

The South African rand was little changed around 16.2 per USD, as investors assessed the latest inflation data, while awaiting the SARB's monetary policy decision later in the day. South Africa's inflation rate inched up to 4.4% in August from 4.3% in July, below the expected 4.5%, supporting expectations of policy tightening. The South African Reserve Bank is widely expected to deliver a 25-basis-point rate hike later in the day after leaving rates unchanged at its previous meeting in July.