SARB's Mboweni on regulatory developments

In the speech 'International regulatory developments and the South African banking sector' given on 2 October Tito Mboweni of the South African Reserve Bank said South Africa's high rate of private sector credit is a major concern and poses a risk to the inflation outlook.

"The high rate of credit extension has become a major cause of concern for the bank," he said in the speech.

Mboweni said the high levels of credit extension had led to record household debt of almost 70 percent of disposable

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