The JSE was weaker on Monday morning, along with its global peers as investors looked ahead to US Federal Reserve chair Jerome Powel’s testimony this week for clues on monetary policy outlook.

The US central bank kept the benchmark interest rate unchanged at 5.0-5.25%, matching market expectations of pausing the cycle after 10 consecutive rate increases. However, the upbeat federal open market committee (FOMC) economic projections and Powell’s speech backed the hawkish Fed bias surrounding the July meeting, with investors still unclear if the central bank would continue to hold rates for long...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.