South Africa: March credit demand inches up

SA reserve bank

The South African Reserve Bank’s data shows an increase in private sector credit by 6.1 percent in March from 6.03 per cent in the previous month.

Expansion in the broadly defined M3 measure of money supply accelerated to 6.95 per cent from 5.3 per cent in February.

At the end of March, the Monetary Policy Committee (MPC) of the South African Reserve Bank cut interest rates by 25 basis points. This led to interest rates staying at 6.5 per cent at a lending rate of 10 percent.

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