JSE slips, while trade likely to be thin as US closes for Juneteenth holiday
The US Fed has kept the interest rate unchanged at 5.0-5.25%, matching market expectations of pausing the cycle
19 June 2023 - 11:13
The JSE was weaker on Monday morning, along with its global peers as investors looked ahead to US Federal Reserve chair Jerome Powel’s testimony this week for clues on monetary policy outlook.
The US central bank kept the benchmark interest rate unchanged at 5.0-5.25%, matching market expectations of pausing the cycle after 10 consecutive rate increases. However, the upbeat federal open market committee (FOMC) economic projections and Powell’s speech backed the hawkish Fed bias surrounding the July meeting, with investors still unclear if the central bank would continue to hold rates for long...
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