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.


Read more at Reuters Africa

South African Rand Poised for Weekly Gain; Investors Resume Carry Trades

(Bloomberg) -- South Africa's rand is headed for a
weekly gain against the dollar as a rebound in global stocks
prompted investors to resume buying emerging-market assets.

The rand also advanced against the Swiss franc and Japanese
yen as traders borrowed funds in those currencies to invest in
higher yielding stocks and bonds in South Africa, a strategy
known as the carry trade. The rand extended gains after central
bank Governor Tito Mboweni said he was concerned about inflation
in Africa's largest economy.


Read more at Bloomberg Currencies News