South Africa’s central bank (SARB) said on Friday it would reduce overnight repo auctions to one per day from the two it has held since early March to inject liquidity into the banking system amid the coronavirus pandemic.

Growth in private sector credit in South Africa in April slowed to 7.37% year on year from a revised 7.75% in March, central bank data showed on Friday.

Expansion in the broadly defined M3 measure of money supply quickened to 10.47% in April from 9.49% in March.

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