Bank lending flat; jobs market weighs

30 September 2020

 

Summary: Private sector credit flat after three months of falls; steady growth in owner-occupier segment offset by falls in business loans, personal debt; business credit expected to decline “for some time”; “struggling” housing credit linked to “fragile” jobs market.   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...

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