Demand for credit falls: SARB

2010-02-26 12:42

CREDIT demand by the private sector declined by 1.12% year-on-year

last month, the SA Reserve Bank (SARB) said today, adding that this followed a

revised contraction of 0.55 in December.

Private sector credit extension was only likely to improve once

consumers were more comfortable with current debt situations before taking on

new debt, economists said.

The SARB added that for last month, growth in the broadly defined

M3 measure of money supply increased an annual 0.57% compared with a revised

1.6% growth in December.


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