South Africa Credit Growth Accelerates After Rate Cut
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South African credit growth accelerated to an annual 4.4 percent in September after the central bank cut its benchmark interest rate for the second time this year, spurring consumer spending.
The growth in borrowing by households and businesses rose from 3 percent in August, the Pretoria-based Reserve Bank said on its website today. The median estimate of 15 economists surveyed by Bloomberg was for a gain of 4.2 percent.