![[TOP STORY] Looking at Grindrod, Transnet, US inflation, jobs and interest rates](https://i.headtopics.com/images/2022/10/14/moneyweb/top-story-looking-at-grindrod-transnet-us-inflatio-top-story-looking-at-grindrod-transnet-us-inflatio-1580883674043588609.webp)
[LISTEN] 'I think the Fed is still far from over-hiking; if they don’t get inflation under control the economy will go into recession' Mia Kruger – Kruger international on MoneywebNow with SimonPB. Download the podcast below. Moneyweb InterestRates
SIMON BROWN: I’m chatting now with Mia Kruger, director at Kruger International. Mia, let’s start with the home news, I suppose. Grindrod – a really strong update from them. Of course, [it’s] a very cyclical business. When commodities are booming, Grindrod kind of goes with it as well. But [those were] really good numbers coming through for what I think was a nine-month trading update.
Also, the company has streamlined the business, they’ve sold off their bank. It’s been something that they’ve wanted to do for quite some time. It has been approved by the Competition Commission to African Bank, which will make that a really interesting new player in the business banking space. I think it is small, but still sort of an interesting new addition. A good fit there.
Going offshore, we had the US inflation [news] yesterday. It did fall to 8.2% from 8.3%. Initially the market hated it, then the market loved it. The market truthfully is sometimes just a crazy, manic space. But in essence inflation’s coming down; it is slow and the Federal Reserve is going to continue raising rates. That to me is probably the key part of that data point.
The big issue here [that] I think the Fed keeps their focus on, and that the market really has latched on to as well, is the fact that the core inflation – which really includes services inflation, includes that housing or ‘shelter inflation’ that they refer to – that part of the inflation number has kept on creeping up. So we’ve seen a year-on-year increase of 6.
But overall I’m with you. I think that the Fed is still far from over hiking [interest rates]. They’ll definitely have to get this under control.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WATCH: Brave honey badger takes on three leopards in epic Kruger fight | The CitizenWATCH: There is a saying that rings that ‘dynamite comes in small packages’ and this is spot on when it comes to these ferocious mammals. 🐆🦡 wildlife
Read more »
BACKSTORY: Bridgette Walsh-Kruger of FNB Private ClientsThe FM talks to Bridgette Walsh-Kruger, CEO of FNB Private Clients.
Read more »
‘Fed up’ JMPD cops demand equal payUnion officials believe the ‘revolving door at the mayor’s office’ has not helped matters.
Read more »
‘Fed up’ JMPD cops demand equal payUnion officials believe the ‘revolving door at the mayor’s office’ has not helped matters.
Read more »
Big Fed rate hike expected as US core inflation hits a 40-year high[JUST IN] The inflation data likely cement an additional 75-basis point interest rate hike at the Fed’s November policy meeting. Moneyweb InterestRateHike
Read more »
World: Global markets: Asian stocks weaken as Fed, BoE fuel uncertainty before US CPI dataAsian stocks followed Wall Street lower and bond yields remained depressed on Thursday as investors weighed the risks of global recession amid hawkish Federal Reserve rhetoric and uncertainty about the Bank of England's commitment to stabilising markets.
Read more »