The JSE was lower in muted trade on Thursday just after midday, ahead of the Reserve Bank’s interest-rate announcement. The market expects the Bank to keep interest rates on hold, despite Wednesday’s release of upbeat consumer inflation numbers for April. Inflation came in at 5.3% year on year in April, compared to 6.1% in March. Nedbank analysts said that while inflation was expected to remain below 6% over the medium term, the Bank would be cautious "as the horizon was dotted with event risks". They also expected no changes in interest rates this year but said there was "the possibility of two rate cuts next year". The Dow Jones industrial average closed 0.36% lower on Wednesday, while on Thursday Asian markets ended up slightly, led by the Shanghai Composite, which gained 1.43%. At 12.03pm the all share was down 0.28% at 54,155.4 points the blue-chip top 40 had shed 0.26%. The gold index had lost 1.29%‚ platinums 4.24% and resources 1.24%. Banks and financials were 0.47% and 0.39...
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