MARKET WRAP: JSE slips with US Fed leery of more rate cuts
Meanwhile, the SA Reserve Bank chose to keep interest rates as they are, as expected
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.