MARKET WRAP: JSE and rand firm as investors digest US and UK rate hikes
Fed chair’s dovish comments spurs investor hopes that further monetary tightening could be placed on hold
23 March 2023 – 19:40
The JSE tracked mostly firmer global markets on Thursday as investors digested the Federal Reserve’s interest rate hike the day before despite widespread about the banking sector.
The Fed increased its benchmark rate by 25 basis points — the ninth hike since March 2022 — taking the upper band of the Federal Funds Rate to 5%…