US central bank chair Jerome Powell hints at a further 25bps increase, but says no interest rate cuts are on the radar for the rest of the year
The JSE was firmer on Thursday morning, while its global peers were mixed as investors digested the move by the Federal Reserve to hike interest rates despite concerns about the banking sector.
The Federal open market committee raised rates by 25 basis points as expected by some market participants. Fed chair Jerome Powell hinted at a further 25bps still to come, while also stating that rate cuts for 2023 were not on the Fed’s radar. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.
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