The South African Reserve Bank has opened a door for the first time to using the unconventional monetary tools that other central banks used to stimulate their economies out of the global financial crisis - and are using again as the Covid-19 pandemic brings pandemonium to markets and a sudden stop to economies.

The Bank's decision to intervene to stabilise SA's markets and keep them liquid is not quite the "quantitative easing" that central banks in the US, UK and Europe are implementing, even if the tools are similar...

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