MARKET WRAP: JSE slides, rand firms on hot CPI
Worse than expected inflation paves the way for a further rate hike by the Reserve Bank
19 April 2023 - 18:37
The JSE closed weaker on Wednesday after inflation came in hotter than expected for a second consecutive month in March, increasing the prospects for another rate hike by the Reserve Bank.
Inflation as measured by the consumer price index (CPI) rose to 7.1% year on year, up from 7% in February and ahead of market forecasts. Prices rose 1% in the month, compared with 0.7% previously...
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