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MARKET WRAP: JSE slips as FOMC minutes awaited

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Resurgence of Covid-19 in Europe is adding to investors’ concerns; rand remains under pressure from beleaguered Turkish lira and the prospect of higher US rates

The JSE closed weaker on Wednesday as investors mulled over the prospect of tighter monetary policy in the US and the resurgence of Covid in Europe.

The Federal Reserve is scheduled to publish the minutes of its federal open market committee meeting later on Wednesday, which are expected to give further insight into the US central bank’s decision to start slowing asset purchases. Fed chair Jerome Powell has pledged to use policy tools to stop higher inflation from “becoming entrenched”. ..

 

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Cyril is apparently an economist and affluent businessman who understands money management? Hmm. Curious considering the state of the country's economy. Then again...

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