SARB Private Sector Credit y/y measures a change in loans issued by financial institutions to the country's private sector, in the reference month compared to the same month a year ago.
The indicator covers data on all credits: loans to household, corporate loans, mortgage and general purpose loans.
To compile the monthly report, the South African Reserve Bank collects information from banks and financial companies. A percentage change for a selected period is calculated as the previous period credit level divided by the actual value.
The index is used to evaluate potential retail sales, shows a change in interest rates and reflects consumer mood. The index growth indicates an increase in consumer spending which, in turn, suggests potential inflation growth and a higher activity in the financial and credit sector of the national economy. However, the excessive increase of the household debt may indicate the economic overheating.
Generally, growth in consumer credit affects South African rand quotes positively.
The chart of the entire available history of the "South African Reserve Bank Private Sector Credit y/y" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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