Then, at the request of this committee, I will discuss the still uncertain impact of Brexit and its implications from a Single Market perspective. Strengthening the recovery: responding to current challenges at global and euro area levels The global economy is expected to continue its recovery, although growth will remain slower than before the crisis.
Third, the Reserve Bank raised its policy repo rate 13 times between March 2010 and October 2011 by a cumulative 375 basis points. The policy repo rate increased from a low of 4.75 per cent to 8.5 per cent. Still it did not help contain inflation. The critics of the Reserve Bank argue that monetary tightening rather than lowering inflation has slowed growth.