There are also other more specific reasons: low interest rates ensure that investment, the benefits from investment and from employment, materialise more quickly. Structural reforms reduce uncertainty regarding macroeconomic and microeconomic prospects. Therefore, it is the opposite, rather than seeing an increase in moral hazard, I see a relationship of complementarity, of incentive.
I hope that today’s informative session will provide you with deeper insights on the merits of the MauCAS and the SADC and COMESA cross-border payment systems. The Bank’s Payments team will take you through detailed presentations and I encourage you to make the session as interactive as possible by asking your questions.