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MARKET WRAP: JSE eases as Fed rate decision nears

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US central bank is widely expected to raise rates by another 75 basis points, but investors looking for clues on its next move

The JSE reversed course on Wednesday afternoon to close weaker, in line with US and European markets, as investors turned cautious before the outcome of the Federal Reserve’s policy meeting later in the day.

Fed Chair Jerome Powell is scheduled to announce the latest decision of the Federal Open Market Committee, with a hike of 75 basis points widely expected. However, the most pressing question for investors is the central bank’s next move to rein in the highest inflation in 40 years while minimising recession risks that are already weighing on markets. ..

 

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