Global markets are mostly treading water ahead of the US Federal Reserve’s monetary policy announcement on Wednesday.Wall Street eked out fresh records on its three main indices on Tuesday, and Asian markets were flat on Wednesday.Gold was also little changed, and the dollar edged up. The rand weakened on Tuesday, and the recent weaker trend is benefiting rand hedges. The Fed is not expected to announce a rate hike on Wednesday, but the market will be watching two things: whether it starts trimming the $4.5-trillion in assets it built up in its post-financial crisis stimulus programme; and clues for which way policy makers are leaning on a possible December rate hike.In local economic news, consumer inflation figures are due on Wednesday, and the Reserve Bank is expected to announce a rate cut on Thursday.Lower local interest rates would put downward pressure on the rand.JSE-listed companies expected to report results on Wednesday include Pan African Resources and Remgro, both repor...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
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.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.