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South Africa's Ramaphosa hails 'new dawn', warns of tough decisions He promised to make job creation a priority in 2018. South Africa's rand ZAR=D3 rallied soon after Ramaphosa started his address, trading near its three-year best. Financial markets have rallied since Ramaphosa took over from Zuma as ANC leader in December, as investors warmed to his pledges to ...
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| Markets Confront Death by a Thousand Cuts Similarly, central bankers waited too long to raise rates despite clear housing-market excesses in the early 2000s that enabled the subprime mortgage boom, which precipitated the financial crisis and the 2007-2009 recession. At the time, the rate increases didn't start until mid-2004, rising slowly in ...
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