SARB's Mboweni: flight to quality ironic
Tito Mboweni, the governor of the South African Reserve Bank, said it was ironic that capital was now flowing back to the United States, the source of the current crisis.
"Capital is in fact flowing back to the United States, the source of the current crisis. We are told that this is a 'flight to quality' or 'risk aversion'. An irony indeed," said Mboweni. He said that according to the Institute of Finance flows to emerging markets were expected to decline from $900 billion in 2007 to about $165
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