“Surprise slowdown” drags on private credit growth

Summary: Private sector credit flat in October; just under expectations; driven by “surprise slowdown in housing credit”; continued steady growth in owner-occupier segment, offset by falls in business loans, personal debt; housing sector lending “responding to lower rates”; credit growth “likely passed the low point in this cycle.”   The pace of lending to the non-bank private sector by financial institutions in Australia has been trending down since late-2015. Private...

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