JSE slips as investors mull over US inflation data after SVB collapse
Markets still believe the US Fed will hike rates 25 basis points next week despite the stress in the US banking system
15 March 2023 – 11:06
The JSE was little changed on Wednesday, with its global peers mixed as investors digested the US’s inflation report and the fallout from the Silicon Valley Bank (SVB) collapse.
US consumer prices rose in line with market expectations. On a monthly basis, inflation was 0.4%, matching estimates for February. The core CPI (consumer price index), which excludes volatile food and energy prices and is the Federal Reserve’s preferred measure of underlying price pressures, rose 0.5% month to month — slightly higher than the markets’ expectations. ..