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I second this suggestion. From reading here, the bolts sometimes loosen with age. Try that first if you haven't already...
Most of the time it seems like Volvo racks are replaced due to leaks. In that case, the rack can often be saved by switching to synthetic or using Lucas PS fluid.
My 90 also had a similar mechanical issue. If in fact their is play inside the rack it is time to replace it. How many miles on the rack? Mine died at around 200k. A rebuilt rack comes with inner tie rods. You shouldn't need to replace anything else. Just be gentle on the steering u-joint. Get it aligned afterwards.
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