The RMB/BER9 business confidence index, while still well below the neutral 50 mark, rose off eight-year lows in the previous quarter. However, all this is no cause for premature celebration. Many factors still limit the room for a meaningful improvement in South African economic growth.
Loans granted to MSMEs shall be counted as part of banks’ compliance with reserve requirements. At the same time, the BSP continues to monitor the developments arising from the pandemic.