Indications are that South Africa’s lending rate will be increased by 50 basis points when the Reserve Bank announces its first repo-rate adjustment for the year on Thursday.
Market sentiment is on somewhat of a high though, buoyed by hopes of two possible scenarios – economic recovery in China and the US Federal Reserve easing interest rates in the States.
Moreover, the Johannesburg Stock Exchange’s FTSE All Share Index rose over 1% to trade above the 80, 100 level on Monday, Trading Economics reports.
Apparently this is “a fresh record high”.
Adding to the good news coming out of the JSE, “almost all sectors (are) trading in the green”, according to the report.
