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

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.

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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
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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.
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