Government bond markets have continued to rally,  2  2  Would ‘Brexit’ matter for South Africa?, South African Reserve Bank Economic Note, 20 June 2016, Jean Francois Mercier and Guy Russell. BIS central bankers’ speeches  as monetary policy in advanced economies remains largely accommodative, with likely further easing in a number of key economies.
Moving to the policy sphere, it has been an eventful 12 months for monetary policy. Late last year, the Federal Reserve raised its policy rate for the first time in almost 10 years.