×

We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

The JSE ended Wednesday lower as investors digested the increased likelihood that the Reserve Bank will eventually have to hike interest rates. Reserve Bank deputy governor Daniel Mminele warned on Tuesday that consumer inflation could overshoot the 6% upper limit of its target band. “Given the volatile environment, the risk of an overshoot of the target, given the balance of risks, should not be under-estimated,” he said in New York on Tuesday, in a speech posted on the Bank’s website. This will affect local economic growth negatively with the World Bank downgrading growth for 2018 to 1% from 1.4% on Wednesday. Losses on the JSE on Wednesday were fairly broad-based, with banks faring worst on a weaker rand. Resources showed some resilience but faltered towards the close despite Brent crude jumping above $85 a barrel again. Naspers lost 1% to R2,970, its first close below R3,000 since April 26. SA is undergoing a very slow and volatile recovery to low potential growth of about 2% ag...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now