South Africa October M3 Money Supply Growth Slows More Than Expected

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In a report released on Monday, the South African Reserve Bank announced that M3 money supply increased 2.67% year-on-year in October, slower than the 4% growth in the previous month. Economists had expected a 3.5% increase.

At the same time, M2 money supply rose 0.87%, slowing from the 2.48% growth in the preceding month, while the M1 money supply growth rate was 1.53%, up from 1.15%.

Meanwhile, claims on the domestic private sector or PSCE slid 0.42% on year in October, in contrast to the 1.49% growth in September. Economists had expected a 0.21% rise.

In a report released on Monday, the South African Reserve Bank announced that M3 money supply increased 2.67% year-on-year in October, slower than the 4% growth in the previous month. Economists had expected a 3.5% increase. (Market News Provided by RTTNews)