Latest data up to end-March 2021, show that financial conditions have eased significantly since early 2020, although there has been a slight tightening in March 2021. The average value of the FCI over the past 12 months was down 11.5% 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 3%, while the indicator rose by 5.6 m/m in March 2021.
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