SARB Financial Stability Review, March 2005
Estimates suggest overall world growth to be the strongest since 1998. Although the Financial Stability Review provides a positive assessment of global financial stability, it also identifies developments that could impact stability. These are growing levels of global imbalances, high oil prices, the ever-present threat of terrorism and political tensions, a destabilising reversal of investment flows into emerging markets and the impact of under-funding and ageing populations on pension funds.
The South African financial system was assessed as sound based on an analysis of various indicators. Increased confidence in the financial system was evidenced by a rise in the financial services index, while stress testing results showed that the South African banking sector would remain resilient to specific plausible macroeconomic shocks.
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