Marcus shows concern for lack of credit demand in SA global market

SA Reserve Bank Governor, Gill Marcus

SA Reserve Bank Governor, Gill Marcus

SA Reserve Bank governor, Gill Marcus has stated on Wednesday that there is no risk of a credit bubble occurring in SA as private sector credit extension was still relatively low at 6%.

Answering questions before Parliament’s Standing Committee on Finance, Marcus has said that the lack of demand is of huge concern as for private sector credit extension is still very low compared with other countries that are around 35% or early 30%.

She has said that the question should rather be was there a credit demand and the ease of conditions against which credit was granted.

She has told that at the moment the (credit) bubble is not viewed as a problem. The prevailing global market conditions were severe and going into recession will make it worse but even as it stands, if it continues like this then a huge challenge might be faced.

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