The JSE traded firmer following the South African Reserve Bank’s monetary policy committee’s decision to hike the repo rate on Thursday.
The All Share Index touched record highs during the session and closed having added 0.98% to 80,509 points.
The Reserve Bank hiked the repo rate by 25 basis points taking the repurchase rate to 7.5% and the prime lending rate to 7.25%. The latest hike is the ninth of the current cycle, which started in November 2021, taking the total adjustment to 375 basis points.
At 17.18, Germany’s DAX added 0.093%, France’s CAC 40 was 0.72% higher and London’s FTSE 100 0.17% firmer. In the US, the Nasdaq added 1.13% while the S&P 500 was 0.56% firmer.
In the currency markets, the rand is trading at R17.17 against the dollar while it’s exchanging hands at R18.70 to the euro and R21.24 to the pound.
