While this won’t appease its many critics, the Reserve Bank is not the only central bank that has signalled it is ready to take the foot off the accelerator.

While governor Lesetja Kganyago delivered another repo rate cut of 50 basis points as widely expected by the market last week, that two out of five monetary policy committee members voted for a smaller reduction is a clear signal that the extraordinary easing phase is nearing an end...

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