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South Africa’s credit growth slows to 6.6% y/y in Nov

South Africa’s central bank Governor Lesetja Kganyago looks on next to finance minister Tito Mboweni as they attend an event to launch a commemorative coin, in Johannesburg, South Africa, June 5, 2019. southafricnews/Mfuneko Toyana/File Photo

JOHANNESBURG (southafricnews) – Growth in private sector credit in South Africa slowed to 6.60% year-on-year in November from 7.28% in the previous month, central bank data showed on Tuesday.

Expansion in the broadly defined M3 measure of money supply quickened, to 7.35% in November from 7.28% in October.

Reporting by Mfuneko Toyana; Editing by Kim Coghill

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