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Johannesburg - Share prices on the JSE followed the rest of the word sharply higher on Thursday as fears that US interest rates will rise soon, seemingly subsided considerably.
The strong US dollar, the reason for most of the world market woes, tumbled sharply after the US Federal Reserve painted a far more dovish picture about America's economic prospects, and stressed it would remain cautious before making any move on interest rates.
The Fed’s open market committee did not only lower its forecast for US economic growth, but also lowered its rate outlook to 0.5% to 0.75% for the end of this year from 1.0% previously, while also reducing its 2016 forecast to 1.75% to 2.5% from 2.5%.
