While South Africa is currently facing some headwinds, the fundamentals underpinning the South African economy, such as the strong macroeconomic policy framework and the strength of institutions, provide the platform from which to successfully implement structural reforms that will lift both potential and actual growth and enhance resilience to external shocks.
Another effect of your monetary policy has been to create the conditions for a new real estate bubble, since there’s no longer any return on savings. 2/5  BIS central bankers' speeches  There is a risk, but we’re not there yet. There are local tensions, but nothing that affects the euro area as a whole.