MARKET WRAP: JSE firmer as markets digest Fed’s less hawkish tone
The local bourse gained the most in more than a week on news that US Federal Reserve chair Powell may slow the pace of rate hikes
28 July 2022 – 18:31
The JSE gained the most in more than a week on Thursday as investors welcomed less-than-feared hawkish tone from the US Federal Reserve, which moved to raise interest rates in line with market expectations.
The Fed delivered a 75-basis-point (bps) hike for the second consecutive meeting on Wednesday evening to battle a four-decade-high surge in inflation. Chair Jerome Powell indicated that the central bank could slow the pace of its rate hikes, saying its future moves will be data dependent…
Source: businesslive.co.za
