Johannesburg - South African credit growth accelerated to 8.2 percent in August, the central bank said.
Growth in borrowing by households and companies advanced from 7.4 percent in the previous month, the Pretoria-based Reserve Bank said on its website today.
The median estimate in a Bloomberg survey of 13 economists was 7.2 percent.
The Reserve Bank kept its benchmark repurchase rate at 5 percent for a seventh consecutive meeting on September 19.
Inflation exceeded the bank’s 3 percent to 6 percent target band for a second month in August, giving policy makers little room to stimulate the economy, which the bank forecast will grow 2 percent this year, the slowest pace since a 2009 recession.
The broad M3 measure of money supply rose 6.9 percent in August from a year earlier, compared with 7.4 percent in July, the central bank said.
The median estimate in a Bloomberg survey of nine economists was 7.3 percent. - Bloomberg News