MARKET WRAP: JSE softens ahead of Fed decision

The JSE ended weaker on Wednesday, underperforming its counterparts in Europe, as investors braced for stiff rate hikes by the Reserve Bank and the US Federal Reserve.

The Bank’s monetary policy committee is widely forecast to hike the repo rate by 75 basis points (bps) to 6.25% at the conclusion of its three-day meeting on Thursday, even after Stats SA reported that inflation eased slightly to an annual 7.6% in August from 7.8% a month earlier. However, the reading was above the consensus forecast of 7.5%. ..

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