Latest data up to end-February 2021, show that financial conditions have eased significantly since late 2019 / early 2020, although there has been a slight tightening compared with the previous 8 months. The average value of the FCI over the past 12 months was down 13% compared with the average for the previous 12 months. Owing to the rise in the value of the rand during the past three months, the average 3m/3m change in the indicator did show a rise of 2.1%, while the indicator rose by 4.5 m/m in February 2021.
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