News of glitches and failures, combined with isolated cases of fraud at fintechs around the world, just go to show that accidents and misconduct cannot be eliminated through technology and a fresh appearance alone.
The delay in normalisation and global search for yield has seen a resumption of capital flows to emerging markets, reversing the negative trend observed during the second half of 2015. The rand exchange rate has been sensitive to these developments, with elevated levels of volatility. Since the time of the previous AGM the rand depreciated on a trade-weighted basis by about 8,5 per cent.