News Formal

MARKET WRAP: Rand holds steady as Reserve Bank hikes repo rate

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 63%

Business News News

JSE records modest gains in a thin session with Wall Street closed for Thanksgiving holiday

The rand weakened slightly after the Reserve Bank hiked interest rates for a third straight time on Thursday, while the JSE posted slim gains in a thin session with US markets closed for the Thanksgiving holiday.

The Bank raised the repo rate by 75 basis points, in line with the forecasts of economists surveyed by Bloomberg, taking the benchmark borrowing indicator to 7% from 6.25% — higher than it was before the start of the coronavirus pandemic...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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
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:

 /  🏆 12. in BUSİNESS

Business Business Latest News, Business Business 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 investors sneeze at China’s Covid bluesTraders’ focus has turned to the minutes of the Fed’s latest policy meeting that are due on Wednesday
Source: BDliveSA - 🏆 12. / 63 Read more »

Business Maverick: Stocks climb, dollar falls on slower fed rate path: markets wrapA gauge of global stocks headed for the highest level in more than two months on Thursday and the dollar fell after Federal Reserve meeting minutes showed support for tapering interest-rate increases.
Source: dailymaverick - 🏆 3. / 84 Read more »