In addition, area-wide industrial confidence increased further around the turn of the year and consumer confidence remained at the high level reached in the last two months of 1999. The cyclical upswing should extend well into 2000 and continue thereafter. This is also confirmed by available forecasts, which point to real GDP growth of slightly over 3% in 2000.
We are also unsure as to how effective such tools would be and because institutional structures and banking systems vary widely, we cannot assume that policies which work in one country would necessarily work in others. The SARB’s approach is set out in a paper5 released for comment in November 2016.