SA’s stock market and financial services sector responded well to the country being greylisted earlier in 2023 due to lax money-laundering laws, than they would have in the event of a sovereign downgrade, a study by the Reserve Bank shows.

The central bank in its financial stability review (FSR) published on Wednesday said it had investigated the impact of the decision of the Financial Action Task Force (FATF) in February to place SA on its greylist on stock market returns using an event-study methodology...

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