The SA Reserve Bank’s efforts to support the economy and prop up lending — including record low interest rates — are yet to bear fruit with both households and companies reluctant to take on more debt.  

Private sector credit extension slowed for the fourth consecutive month in July, data from the Bank showed on Monday. That’s despite the central bank having cut interest rates to their lowest in almost half a century and loosened regulations to make it easier for commercial banks to lend in the wake of the Covid-19 outbreak and national lockdown.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now