MONEY LIVE | China tops forecasts with 8.1% growth in 2021 but headwinds loom -
United States consumer inflation up at 7% in Dec 2021, highest level since 1982. Interest rates still down at 0.25%, offering no incentive to save.
Traders have been worried by the prospect of an end to the ultra-loose policies, which have helped power a two-year market rally and support the pandemic-hit economy.He said the economy was on a strong footing, and with inflation rising and employment recovering,"the economy no longer needs or wants the very highly accommodative policy".
The comments were taken by traders to be less hardline than feared, suggesting recent fears about a swift removal of easy-money measures may have been overdone. While most observers expect equities to endure some tough times in the near future, they remain broadly upbeat about the outlook for this year.Rand jumps to strongest level in weeks as Powell soothes policy fears
But he said policymakers were still debating approaches to reducing the Fed's balance sheet, and that it could sometimes take two, three or four meetings for them to make such decisions. The telecoms giant also announced the appointment of Megan Nicholas as managing director for MTN Supersonic, the company's fibre and broadband internet service provider."Residential broadband delivery is a critical strategic focus, as we work to bring our superior network and service into more of our customer’s homes.
Bitcoin meanwhile, the world's most popular cryptocurrency, rose above $42,000 just a day after having sunk below $40,000 on fears of reduced liquidity as a result of US monetary policy tightening. In late morning trading, the Dow was down less than 0.1 percent, while the S&P 500 was up 0.2 percent and the tech-heavy Nasdaq Composite showed a gain of 0.9 percent.
Markets are now awaiting the release of US inflation figures on Wednesday, which could play a major role in the Fed's timing. Vodacom spokesperson, Byron Kennedy, said the company had on Monday afternoon filed a notice to oppose Part A of Telkom's court application for an interdict to stop Icasa from processing any applications.
According to Van Dijk"buying more Prosus shares reflects my personal conviction that our businesses have had exceptional momentum and that their value is not at all reflected in the stock. At 3 114 tons, Alphamin's tin production was 10% higher in the fourth quarter of last year than in the previous quarter – and a record for the company. Sales were 13% higher to reach 3 056 tons. Product grade also benefited from improved underground mining practices.
Alphamin is now developing Mpama South, where a mineral resource estimation exercise commenced in December 2021. Drilling activities continue with six rigs on-site and the next large batch of test results is expected this month.MC Mining has again asked the Industrial Development Corporation for an extension for repayment of its R160 million loan, plus interest, as well an extension of the terminal drawdown date of a further, conditional, R245 million loan.
While the fast-spreading Omicron coronavirus variant plays on nerves, traders are now coming to terms with the imminent end to the pandemic era of ultra-cheap cash, which helped the economic recovery and fanned a global rally for nearly two years. "We will use our tools to support the economy and a strong labour market and to prevent higher inflation from becoming entrenched," his opening statement said.
The prospect of higher rates has rattled US markets at the start of the year. The Nasdaq is already down more than four percent as tech firms are more susceptible owing to their reliance on debt to drive growth.
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