Johannesburg - South Africa’s broad All Share [JSE:J203] index
hit a record high on Wednesday, edging up as lower-than-expected inflation data
stoked hopes of another rate cut by the central bank.
The All-share was up 0.09% at 34 745.37 at 08:22 GMT, a
record high for the index, surpassing the previous day’s record level.
Official data released on Wednesday showed May consumer
inflation slowed more than expected to 5.7% year-on-year, below a 5.95%
economists polled by Reuters had expected.
Another rate cut would likely be positive for consumer
spending, giving businesses in South Africa a much-needed boost.