JSE slips ahead of US Fed’s announcement on rates

The JSE was weaker on Wednesday morning, with its global peers mixed as investors’ focus shifted to the US Federal Reserve’s monetary policy decision announcement later in the day.

Markets have priced in a 75-basis-point interest-rate hike by the Fed on Wednesday evening as the US central bank concludes its federal open market committee (FOMC) meeting. However, investors will pay close attention to the address by chair Jerome Powell for details about the bank’s plans. The media conference will be at 8pm SA time, well after markets close…

Source: businesslive.co.za