MARKET WRAP: JSE weaker and rand muted as investors digest rates outcomes

The rand was little changed on Thursday after the Reserve Bank held the interest rate steady, as expected, while markets were generally under pressure amid the Federal Reserve’s hawkish tone signalling higher-for-longer interest rates. 

SA’s central bank kept its benchmark interest rate unchanged at 8.25%. The monetary policy committee (MPC) voted 3-2 in the decision, with two members opting for a 25 basis point (bps) rise…