S.Africa's c.bank governor says household debt costs to bite

(Reuters) - South Africa's central bank Governor Tito Mboweni warned on Friday that rising debt services costs were going to bite, and repeated calls for consumers to be careful about acquiring credit.

Official data last week showed growth in demand for credit by South Africa's private sector quicked to 24.92 percent year-on-year in June from 24.84 percent, hardening the case for higher interest rates later this month.


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Mboweni:Zimbabwe far from joining rand union - report

(Reuters) - Zimbabwe is a long way from being ready to join southern Africa's rand monetary union, South African Reserve Bank Governor Tito Mboweni was quoted as saying on Monday.

"A very high degree of macro-economic convergence is necessary. They have a very long way to go," he told South African news agency I-Net Bridge.


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Rand pares losses on rate rise

(Reuters) - The South African rand pared losses after the central bank raised benchmark interest rates on Thursday by half a point to 9.50 percent.

The rand which was starting to strengthen from session lows on hawkish comments from Central Bank Governor Tito Mboweni strengthened even further after monetary policy was tightened. The move was expected by the financial markets.


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