The SA Reserve Bank says that GDP is only likely to return to its 2019 levels by 2023 and that the country’s high interest rates compared to developed nations provide it with a “powerful tool” to inject additional monetary stimulus into the economy given that inflation is under control.

“We are expecting to be back at 2019 levels of GDP in something like early 2023,” David Fowkes, a senior economist at the Bank said in a webinar hosted by Allan Gray on Wednesday...

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