JSE slips with market seeking new direction

The rand is trading at a seven-week high after the Reserve Bank’s MPC raised the interest rate by 50 basis points

The rand kept steady below the R18 against the dollar on Friday morning, while the JSE was weaker amid mixed global peers, with investors awaiting fresh news for direction.

The local currency held on to its seven-week best after the Reserve Bank’s monetary policy committee raised the interest rate by 50 basis points — higher than the market expectation of 25 bps, bringing the central bank’s benchmark repo rate to 7.75%, the highest since 2009...

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

BDliveSA /  🏆 12. in ZA

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

MARKET WRAP: JSE firms as global banking fears easeConcerns about higher interest rates pushing the global economy into a recession are still evident though, analysts warn
Read more »

Thin news flow keeps JSE mutedInvestors’ fears that higher rates could push the economy into a recession are again top of mind
Read more »

WATCH: Expectations for SA Reserve Bank’s MPC meetingBusiness Day TV spoke to Hilary Joffe, editor-at-large for Business Day
Read more »

Reserve Bank expected to hike interest rates to a 13-year highSouth Africa’s central bank is set to raise interest rates to a 13-year high to fight rising inflation.
Read more »

Rand strengthens as all eyes turn to the Reserve BankAll eyes are on the South African Reserve Bank and its upcoming rate hike.
Read more »