It is therefore of the utmost importance to monitor shadow banks’ activities and try to regulate them adequately. At their 2014 Brisbane summit, the G20 agreed on a new roadmap for regulating the shadow banking sector. Work is being conducted simultaneously by the FSB, the Basel Committee and IOSCO. But the ambitious reform agenda is far from completed.
The overriding challenge remains to bring inflation in South Africa to a lower level that will be more in line with the average rate of inflation of our major trading partners.