South Africa Raises Interest Rates 50bps, Revises Inflation Higher

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  • #48263
    TradersCom
    Keymaster

    JSE FTSE All Share index closed 73,150 on Friday, the highest in seven months, as gains for retail companies and banks outweighed slight losses for commodity-linked stocks.

    Bidvest and Investec led the gains for financial shares, adding 2.2% and 1.5%, respectively.

    Anglogold and Gold Fields corrected slightly lower from rallies this week after signs that the Fed will slow the pace of rate hikes lifted gold prices.

    iron ore miner Rio Tinto booked losses as soaring Covid cases in China pressed demand expectations for infrastructure.

    On the week, the index added 0.8%

    #48208
    Helmholtz Watson
    Participant

    The South African Reserve Bank (SARB) increased its benchmark repo interest rate by another 50 bps to 7.75% at its March 2023 meeting. Markets had exp
    [See the full post at: South Africa Raises Interest Rates 50bps, Revises Inflation Higher]

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