Credit growth gains momentum while mortgage pay-downs mute pickup

31 May 2021

 

Summary: Private sector credit grows at modest rate in April; half expected figure; credit growth “gains momentum”; housing credit growth continues, business loans down, personal loans flat; mortgage pay-downs, weak personal, business credit capping overall rise.   The pace of lending to the non-bank private sector by financial institutions in Australia has been trending down since late-2015. Private sector credit growth appeared to have stabilised in the September quarter of...

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