Policymakers are ready to cut economic support faster than expected
The JSE looks set to start to weaker Asian markets on Thursday and may have its first loss so far in 2022, after minutes from the US Federal Reserve’s December meeting indicated tighter monetary policy conditions are on their way.
“Participants generally noted that, given their individual outlooks for the economy, the labour market and inflation, it may become warranted to increase the federal funds rate sooner or at a faster pace than participants had earlier anticipated,” the minutes read. The tech-heavy Nasdaq slumped more than 3% on Wednesday, its worst day since February 2021, while the Dow fell 1%.
Gold was down 0.29% to $1,805.30/oz, while platinum had lost 1.03% to $972.68. Brent crude was 0.65% weaker at $79.64 a barrel.
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