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Corporate borrowing reaches R950bn
According to Business Report, corporate borrowing rates are continuing to accelerate and figures from the South African Reserve Bank show that loans to businesses rose by more than 12% year-on-year in March to R950bn.
Business Report reports that higher levels of borrowing has implications for South Africa's inflation rate that is expected to peak at about 6.5% according to Gill Marcus, governor of the Reserve Bank.
The rate is outside the government's target of between 3% and 6% and could mean that interest rates could increase towards the end of this year. The Monetary Policy Committee - responsible for setting rates - is due to meet later this month, according to the report.
For more:
- Business Report: Lending to firms grows by 12%
