MARKET WRAP: JSE muted after wave of rate hikes
European Central Bank and Bank of England follow the Federal Reserve’s tightening action and warn of more to come
02 February 2023 - 19:33
The JSE surrendered earlier gains on Thursday while the rand held steady around R17 to the dollar as the European Central Bank (ECB) and the Bank of England (BOE) followed the Federal Reserve in hiking rates.
As widely expected, the ECB lifted its deposit rate by 50 basis points, taking the lending benchmark to 2.5%, the highest since 2008, but it warned that monetary tightening isn’t done even as energy prices plunge...
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