“Softest period since start of 2021” despite January lending growth

Summary: Private sector credit up 0.4% in January, greater than expected; annual growth rate down from 8.3% to 8.0%; softest period since start of 2021; bond yields down, rate-rise expectations soften; Westpac: “sharp economic slowdown” will add to slowing of credit demand; business lending accounts for nearly 50% of net growth, owner-occupier lending for nearly 45%. The pace of lending to the non-bank private sector by financial institutions in Australia...

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