Financial consultant Intellidex has commended the South African Reserve Bank's (SARB's) move to begin longer-term repo operations from March 25 and to buy South African Government Bonds (SAGBs) in the secondary market. According to the consultancy, "this is a major, very much necessary crossing of the rubicon" by the SARB in response to the breakdown of local liquidity conditions and the dysfunction in recent days in the bond market.
