The original article can be found here.
Article highlights:
- Reserve Bank Governor Lesetja Kganyago says SA has seen the upside and downside to access to global capital flows, which, in recent years, have undermined policy making.
- Low global interest rates helped support state borrowing after the 2008 financial crisis, making winning policy battles harder, he said.
- SA has returned to a difficult monetary policy position it also experienced in the 1990s, he said, while he also appealing against a Manichean view of the issue.
