Demand for credit by South Africa’s private sector fell for the first time since 1966 in October, pointing to tight credit conditions.

Growth in demand for credit slowed more than expected in September, rekindling talk of another interest rate cut.

Growth in demand for credit by South Africa’s private sector reached its lowest level in more than five years in July.

Growth in demand for credit by South Africa’s private sector slowed to 3,4% year-on-year in July, from 3,98% in June, central bank data shows.

SA’s credit demand growth eased more than expected to a five-year low in June, reinvigorating debate about the scope for interest rate cuts.