Kuben Naidoo hails banks’ financial aid during economic shock
Payment holidays and loan restructuring helped keep economy afloat, says deputy governor
04 September 2020 - 05:10
The take-up of credit through the Covid-19 crisis has been better than expected given the unprecedented economic shock and uncertainty about the future, Reserve Bank deputy governor Kuben Naidoo said.
The situation would “have been far worse” without central bank steps to support the economy, including cutting interest rates to the lowest level in almost half a century, Naidoo told Business Day...
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