MARKET WRAP: JSE and rand firm as Fed meeting draws to a close

The JSE closed firmer on Wednesday with investors’ focus squarely on the US Federal Reserve interest rate decision due later in the evening at the conclusion of its first two-day meeting of the year.

A hike of 25 basis points is widely expected, but of greater interest is Fed chair Jerome Powell’s address after the announcement at 9pm local time as markets attempt to gauge the likely direction of the world’s most influential central bank. With evidence of inflation easing, investors are hoping Powell will signal a pause in tightening in the near future. ..