Zero private credit growth in April; business lending stalls

29 May 2020

 

Summary: No growth in private sector credit in April; business lending stalls; owner-occupier lending maintained; investor lending goes backwards faster; negative lending growth expected in 2021/22. The pace of lending to the non-bank private sector by financial institutions in Australia has been trending down since October 2015. Private sector credit growth appeared to have stabilised in the September quarter of 2018 but the annual growth rate then continued to deteriorate...

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