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MARKET WRAP: JSE muted after wave of rate hikes

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Sverige Nyheter Nyheter

European Central Bank and Bank of England follow the Federal Reserve’s tightening action and warn of more to come

JSE close surrendered earlier gains on Thursday while the rand held steady around R17 to the dollar as the European Central Bank and the Bank of England followed the Federal Reserve in hiking rates.

As widely expected, the ECB lifted its deposit rate by 50 basis points, taking the lending benchmark to 2.5%, the highest since 2008, but it warned that monetary tightening isn’t done even as energy prices plunge...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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