Credit growth slows in February, appetite “curbed”

Summary: Private sector credit up 0.3% in February, less than expected; annual growth rate down from 8.0% to 7.6%; “a challenging year”, appetite for credit “curbed”; bond yields down, rate-cut expectations firm; business lending, owner-occupier segments each account for 40% of net growth. The pace of lending growth in the non-bank private sector by financial institutions in Australia followed a steady-but-gradual downtrend from late-2015 through to early 2020 before hitting...

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