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Economic recovery: Low rates are playing a starring role
But only recently. They take time to have an effect, and they need to stay low for a long time.
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The extended low-rate outlook should encourage more risk-taking by firms. This is the best news low rates will have on the real economy. Image: Waldo Swiegers, Bloomberg
Effectively, the nominal repo rate is at its lowest level in 48 years in South Africa.
The last time South Africa had to lower interest rates to this level was during the Yom Kippur War and oil crisis of 1973.
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