Naturally this has implications for the domestic financial environment. The exchange rate of the rand against the US dollar has been mentioned time and again as a significant risk to the domestic inflation outlook with implications for the pace of domestic policy normalisation.
We supported domestic demand and preserved stability at times when global pessimism was at its peak. It was exactly the size of the package, well-calibrated measures and the speed of the response that played the key role in preventing the spillover of the negative effects of the pandemic on the labour market and all other aspects of life and work.