Thereafter, the speed limit for banks with lending in excess of $ million per month will apply to the average rate over rolling three-month windows, as originally proposed. However, we would expect the banks to modify their approach to issuing pre-approvals, in order to ensure that they fall within the 10 percent “speed limit” on an ongoing basis.
Slower growth in aggregate demand has put real GDP growth lower with GDP growing at 7 percent in 2008/09 which was lower than 9.5 percent growth rate projected. But this growth rate is still much higher than the rates of sub Saharan African countries.