South Africa: March credit demand inches up

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

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byAbdulateef Ahmed

April 30, 2019

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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Abdulateef Ahmed

Abdulateef Ahmed, Digital News Editor and; Research Lead, is a self-driven researcher with exceptional editorial skills. He's a literary bon vivant keenly interested in green energy, food systems, mining, macroeconomics, big data, African political economy, and aviation..