MARKET WRAP: JSE rallies after Reserve Bank and Fed cut rates
The all share rises 1.26%, boosted by gains in metals, after monetary policy committee announces a 25 bps reduction
19 September 2024 - 19:06
The JSE firmed with global peers on Thursday as investors digested an interest-rate cut by the SA Reserve Bank and US Federal Reserve.
In a widely expected move, the Reserve Bank’s monetary policy committee (MPC) announced a 25 basis points (bps) cut in its benchmark repo rate, lowering it to 8% — with SA’s inflation rate trending downward, reaching 4.4% in August, below the Bank’s midpoint target of 4.5%...
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