Rand and JSE rally after Fed’s aggressive rate cut
US rate cut may put pressure on the Reserve Bank cut rates by 50bps too, says Citadel Global director Bianca Botes
19 September 2024 - 12:23
The JSE rose more than 1% on Thursday morning, while the rand firmed to its strongest level since July 2023 after the US Federal Reserve slashed interest rates interest rates by 50 basis points (bps) — its first cut in four years.
The significant policy move, though seen by some analysts as an aggressive start to a monetary-easing cycle in the world’s largest economy, was widely anticipated, given the central bank’s success in cooling inflation without damaging the economy...
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