Growth in private sector credit extension moderated further in July, falling to a 14-month low, pointing to the impact of sharply higher interest rates and a weak economy — a signal the Reserve Bank’s rate hiking cycle may have ended.
Data released by the Bank on Wednesday shows private sector credit grew 5.9% in July from 6.3% in June and a recent peak of 9.7% year on year in September 2022. ..
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