The pace of lending to the non-bank private sector by financial institutions in Australia has continued its three-year descent after reaching a post-GFC peak in October 2015. According to the latest RBA figures, private sector credit grew by 0.3% in June, up from the 0.2% growth rate in May and in line with the consensus estimate. However, the year-to-June growth rate fell from 4.8% to 4.5%, as personal loans stagnated...