Pretoria - There are no signs of a credit bubble in South
Africa despite a rise in unsecured lending, Reserve Bank deputy governor
Lesetja Kganyago said on Tuesday.
"Credit that grows at an average of around 7% when
inflation is at 5.5% cannot by any measure be seen as bubble. Unsecured lending
is such a small component of overall credit," Kganyago said in response to
a question at a monetary policy forum.
Unsecured loans in South Africa surged by 21% to $43bn in
the year to June, central bank statistics show, but are still about a tenth of
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