SARB Financial Stability Review, September 2005

The South African Reserve Bank has published the September 2005 edition of its Financial Stability Review. In its latest report the SARB said the global financial system remained resilient during the first half of 2005, despite global economic growth slowing in the second quarter in part reflecting the impact of higher oil prices.

Global growth also remained unbalanced and unduly dependent on the United States and China. Other uncertainties include excessive exchange rate volatility and the

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