The Reserve Bank’s latest Financial Stability Review makes some of the usual soothing noises about how resilient SA’s banks and insurers have proved despite load-shedding, low growth, high inflation, rising interest rates and general global turmoil. But it flags two alarming new risks to financial stability and indeed to the economy.
One is about the capital outflows SA has been facing and the way these have weakened local financial markets. The other is about the secondary sanctions SA could face, with the Review spelling out their practical implications in gory detail. ..
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