JOHANNESBURG, Oct 4 (Reuters) - South Africa’s rand retreated early on Thursday after the World Bank cut its economic growth forecast and took a dim view of President Cyril Ramaphosa’s stimulus plan.
* The rand was 0.29 percent weaker at 14.6875 per dollar at 0650 GMT, having closed in New York at 14.6450.
* The currency is expected to trade between 14.4500 and 14.8500 to the dollar on Thursday, NKC African Economics wrote in a note.
* The World Bank on Wednesday cut South Africa’s economic growth forecast for 2018 to 1 percent from an earlier forecast of 1.4 percent.
* Investors remain skittish on the rand following the announcement on Sept. 21 of a stimulus programme that will see a reallocation of the budget but does not involve an injection of new cash.
* In fixed income, the yield on the benchmark government bond due in 2026 flat at 9.090 percent.
* Stocks are due open weaker at 0700 GMT, with the JSE securities exchange’s Top-40 futures index down 1.26 percent. (Reporting by Nomvelo Chalumbira Editing by Joe Brock)