BoB Praises BBS Mortgage For Youth

The 'vote of confidence' by BoB seems to have allayed fears that the move could lead to a credit crunch similar to the one that paralysed the US financial system last year. Responding to a Monitor Business question at the launch of the Mid-Term Review of the 2008 Monetary Statement, BoB Deputy Governor, Andrew Motshidisi, said the two scenarios were different.

"There is a big difference with the US," Motshidisi said. "People there were enticed (even) though they were not eligible for credit.