Opinion

Monetary policy beyond COVID-19

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The impact of COVID-19 on global economies has triggered unprecedented central bank responses. Since the virus made its debut in December 2019, the US Federal Reserve Bank (Fed) has lowered the targeted fund rate and kept it between a range of 0% to 0.25%. This marks the lowest level since the 2008 global financial crisis. Locally interest rates are at 50-year lows after the South African Reserve Bank (SARB) trimmed interest rates by 3% this year.