MARKET WRAP: JSE firmer as markets digest Fed’s less hawkish tone
The local bourse gained the most in more than a week on news that US Federal Reserve chair Powell may slow the pace of rate hikes
28 July 2022 - 18:31
The JSE gained the most in more than a week on Thursday as investors welcomed less-than-feared hawkish tone from the US Federal Reserve, which moved to raise interest rates in line with market expectations.
The Fed delivered a 75-basis-point (bps) hike for the second consecutive meeting on Wednesday evening to battle a four-decade-high surge in inflation. Chair Jerome Powell indicated that the central bank could slow the pace of its rate hikes, saying its future moves will be data dependent...
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.