The JSE closed lower on Thursday, after the US Federal Reserve downplayed expectations that it may lower interest rates further after a 25-basis-point cut on Wednesday.

Varying views among policy makers regarding the US interest rate decision dampened market expectations that the Fed may embark on an easing cycle. Three members voted against Wednesday’s cut with one proposing a 50-basis-point cut. The Fed cited the prolonged US-China trade war and weak global economic growth as ongoing risk factors.

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 exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now