Monday, South Africa's central bank said in a report that the M3 money supply increased 13.17% year-over-year in February, slower than a revised 13.92% rise in January. Economists had expected an increase of 11.9%. In December, the money supply was up 14.79%.
In February, total domestic credit extension grew 13.93%, compared with a 14.64% growth in January. The total loans and advances growth slowed to 10.24% from 11.44%.
Meanwhile, the demand for credit in the private sector rose 11.05% annually in February, slower than the 11.85% increase seen in the previous month. Economists had expected the growth to slow to 10.9%.
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