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South Africa money supply growth eases for second month

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Staff Writer | April 28, 2017
South Africa's money supply growth eased for the second straight month in March, figures from the South African Reserve Bank showed.
South Africa central bank
Africa   The broad money supply, or M3, rose 5.6%
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.