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South Africa money supply growth eases for second month

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Staff Writer | April 28, 2017
South Africa central bank
Africa   The broad money supply, or M3, rose 5.6%

South Africa's money supply growth eased for the second straight month in March, figures from the South African Reserve Bank showed.

The broad money supply, or M3, rose 5.6% year-over-year in March, slower than the 6.6% climb in February.

Similarly, the annual growth in the narrow measure, or M1, moderated to 7.6% in March from 11.4% in the prior month.

The intermediate money supply, or M2, also grew at a slower pace of 5.1% annually in March, following a 6.0% hike a month ago.

Data also showed that private sector credit in the domestic economy climbed 5.0% yearly in March, just below the 5.2% increase expected by economists. It was also weaker than the 5.3% rise in February.

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