The South African rand weakened past 17.7 per USD, hitting its lowest level since August 11, as the dollar’s gains outpaced those of gold. Meanwhile, investors continued to weigh trade uncertainties and geopolitical tensions, while also eyeing any policy signals from major central banks. Domestically, attention remained focused on domestic plans to revise the inflation target. The National Treasury and South African Reserve Bank (SARB) on September 1st issued a rare joint statement confirming that technical work on a potential adjustment to the country’s inflation target - unchanged at 3% to 6% since 2000 - is nearing completion. SARB Governor Lesetja Kganyago, who has long advocated for a lower target band, recently reiterated his preference to anchor expectations at the lower end, arguing this would support debt reduction and enhance price stability