Events that move the market Q2 – 2023

The Bank of England surprised many investors by raising interest rates half a percentage point on Thursday, saying there had been "significant" news suggesting Britain's persistently high inflation would take even longer to fall.

Signs of de-dollarisation are unfolding in the global economy, strategists at the biggest US bank JPMorgan said on Monday, although the currency should maintain its long-held dominance for the foreseeable future.

President Joe Biden on Saturday signed a bill that suspends the US government's $31.4 trillion debt ceiling, averting what would have been a first-ever default with just two days to spare.

Yesterday (Thursday, 25 May) South African Reserve Bank Governor Lesetja Kganyago announced an interest rate hike of 50 basis points. This brings the interest rate to the highest level it's been since 2009.

There appeared to be no significant progress Saturday in debt ceiling talks as the impasse between the White House and Republican congressional leaders continued.

The Bank of England has announced the 12th successive increase in borrowing costs and no longer expects the UK to fall into recession.

The US ambassador to South Africa has accused the country of covertly providing arms to Russia – a charge that drew an angry rebuke from Pretoria.

The Federal Reserve raised interest rates by another quarter percentage point on Wednesday, extending its 14-month crackdown on stubborn inflation.

Regulators took possession of First Republic Bank on Monday, resulting in the third failure of an American bank since March, after a last-ditch effort to persuade rival lenders to keep the ailing bank afloat failed.

The national power system has been under severe pressure lately, with Electricity Minister Kgosientsho Ramokgopa warning South Africans to brace themselves for a difficult winter season.