SA’s credit extension has continued to slow down over the past year and is unlikely to cause any concern for the Reserve Bank in deciding on interest rates. The NCR reports indicating the total value of new credit granted decreased 8.6% from R117.6-billion for the three months ended December 2014 to R107.5-billion for three months ended March 2015. Credit extension in the first quarter of this year is also lower when compared with the R105.6-billion recorded in the first quarter of 2014. Downward trends in recent years have been largely attributable to a slowdown in unsecured lending, which had previously reached worryingly-high levels, according to some commentators.
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The South African Reserve Bank’s (SARB) Monetary Policy Committee (MCP) meeting was held on 23 July 2015 and as it is was widely expected the repo rate increased by 25 basis points, from 5.75%- 6.0%. The interest barometer, as published by Nedbank Strategic Research, considers the factors influencing the decisions of the SARB’s MCP in the statement made relating to the previous decision (26/03/2015) as well as all developments since this meeting. These factors can be categorised in 3 areas with 12 sub categories: The Global economy – contributing 20% The Domestic Economy – contributing 40% Major inflation drivers –contributing 40% Inflation – The Consumer Price Index was published by […]
Debtsource clients are always asking for standard credit control letters. “What should the format be to notify a client of an account approved or declined?” or “What notification do I need to send to clients that are overdue?” or “Is there a final letter I can send the debtor before taking third party action?” These are important communications to your client that need to be handled appropriately to avoid unpleasantness. Get it wrong and you’ll soon have your sales director breathing down your neck! Debtsource has simplified this process for our clients, by adding a Standard Letters tab to our Debtman system. What’s more is that all your debtor’s details […]