The South African Reserve Bank’s monthly data release showed that annual growth in claims on the domestic private sector slowed to 7.80% in June from 8.57% in May, while growth in total loans and advances eased to 7.30% from 8.34%. Unadjusted M3 money supply declined by ZAR 12.012 billion during June, although its 12-month growth rate remained at 9.31%. Claims on the domestic private sector increased to ZAR 5.362 trillion, including ZAR 4.959 trillion in total loans and advances. Total domestic credit extension fell to ZAR 6.235 trillion as net claims on the government sector dropped to ZAR 873.175 billion. The Reserve Bank’s gross foreign reserves decreased to USD 74.115 billion from USD 76.583 billion in May, while its international liquidity position declined to USD 71.338 billion.
South African Reserve Bank2026-07-31
South African Reserve Bank reports slower private-sector credit growth and a June decline in M3
The South African Reserve Bank reported that annual private-sector credit growth slowed to 7.80% in June, while M3 money supply declined by ZAR 12.012 billion during the month. Gross foreign reserves fell to USD 74.115 billion.