South Africa's rand steady ahead of rates decision

Reuters
South African bank notes featuring images of former South African President Nelson Mandela (R) are displayed next to the American dollar notes in this photo illustration in Johannesburg, file. REUTERS/Siphiwe Sibeko

JOHANNESBURG (Reuters) - South Africa's rand was steady against the dollar on Thursday before an expected hold on interest rates when the central bank unveils its Monetary Policy Committee (MPC) statement at 1300 GMT. Rand little changed, 0.08 percent weaker at 12.33 to the dollar at 0715 GMT. Markets also watching the start of a meeting of top brass from ruling African National Congress (ANC) amid speculation there will be fresh moves to oust President Jacob Zuma. Stocks gain in wake of record run in Asia, with benchmark Top-40 index 0.4 percent higher. Government bonds little changed with yield on benchmark 2026 instrument half a basis point higher to 8.48 percent. (Reporting by Ed Stoddard; Editing by Edmund Blair)