JSE weakens as global markets falter ahead of US Federal Reserve meeting
The JSE posted broad-based losses on Tuesday morning, tracking the weak performance of global markets ahead of the US Federal Reserve policy statement on Wednesday. The main global event this week is a possible announcement on Wednesday by the Fed that it will begin unwinding its $.4.5-trillion balance sheet. Investors are expected to watch closely for any signals from the Fed on the prospect of further interest rate increases this year. Locally, consumer inflation data is expected on Wednesday, ahead of the Reserve Bank monetary policy committee statement on Thursday, where the Bank is widely expected to announce a 25-basis-point rate cut. Global equity markets were flat, with much focus on US President Donald Trump’s address to the United Nations General Assembly later on Tuesday. According to a senior White House official, Trump is expected to address North Korea, and air his frequent grievance that the US is shouldering too much of the financial and military burden as a global l...
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