South African Private Sector Credit (Sep YY) 6.23% (Prev. 7.47%)

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South African Private Sector Credit (Sep YY) 6.23% (Prev. 7.47%) A deceleration of this size in South African private sector credit extension fits a pattern seen when elevated real rates and a weak growth backdrop suppress loan demand faster than supply is withdrawn; the distinction worth drawing is between banks tightening standards and borrowers stepping back, since the former points to stress and the latter to a soft but orderly cycle. Credit growth in South Africa has historically been led by mortgage and corporate lending into the SARB easing phase, so a print running materially below the prior trend while policy is restrictive is read as the transmission channel working rather than as a financial-system signal. The transmission runs through the growth impulse into the front end of the SAG curve and the rate-path pricing around the SARB, with the rand itself more often moved by global risk and commodity terms of trade than by a single domestic credit print. The follow-ons are the money supply and credit components released alongside, which separate household from corporate borrowing, and the tone of the next SARB communications on whether easing has done enough to revive lending. A single monthly reading of this series is noisy; the established pattern is that the trend over several releases matters more than one deceleration. 29 Oct, 05:58 BBVA (BBVA SM) Q3 (EUR) net 3.02bln (exp. 2.98bln), NII 8.08bln (exp. 7.77bln) 29 Oct, 05:33 South Korea's Presidential Office holds an emergency meeting regarding North Korea missile launch 29 Oct, 05:30 SocGen (GLE FP) Q2 (EUR) adj. net 1.9bln (exp. 1.7bln), rev. 7.2bln (exp. 6.8bln) 29 Oct, 05:24 Venezuela's oil revival is threatened by a skilled worker shortage, energy executives in Venezuela warn they are struggling to recruit enough skilled workers to revive the country's dilapidated oil sector, according to FT 29 Oct, 05:07 China condemns the US adding three Chinese firms to the Xinjiang Act list, according to a MOFCOM spokesperson South African M3 Money Supply (Sep YY) 7.93% (Prev. 8.89%) 20 min ago Japanese Consumer Confidence (Oct) 35.0 vs. Exp. 35.1 (Prev. 35.4) 1 hour ago Hyundai Motor (005380 KS) lowered its 2026 sales goal by 160k vehicles to 4mln units 1 hour ago IRGC says it shot down 14th MQ-1 drone over the Strait of Hormuz, according to Tasnim and Mehr News 1 hour ago Toyota (7203 JT) September global vehicle production fell 3.2% Y/Y and parent-only global vehicle sales fell 2.2% Y/Y in September 1 hour ago BoK board member Hwang says watching FX market closely and that USD/KRW movement has been faster than expected, adds time to focus on inflation 1 hour ago Large explosion occurred at a steelmaking complex of the Brazilian National Steel Company in the city of Volta Redonda, in the state of Rio de Janeiro. 1 hour ago Hyundai Motor (005380 KS) Q3 (KRW) oper. profit 2.68tln (exp. 2.61tln) 1 hour ago North Korea reportedly fired around 10 missiles, according to media reports 2 hours ago HSBC (5 HK) maintains prime rate at 5% in Hong Kong 2 hours ago Russia downed most of the 613 drones that headed towards Moscow overnight, according to reports citing the mayor 2 hours ago Geely Auto (175 HK) Q2 (CNY) net 4.8bln (exp. 5.2bln), rev. rose 10% Y/Y to 99.0bln 2 hours ago Japan's Coast Guard says North Korea fired a suspected ballistic missile 2 hours ago Russian President Putin's aide said Moscow is negotiating with Washington regarding lifting sanctions against the Russian Direct Investment Fund 2 hours ago Japan sells JPY 2.12tln 2-year JGBs b/c 4.03 (prev. 3.89), average yield 1.905% (prev. 1.964%) 2 hours ago

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