Credit growth steadies, up 5.2% in year to May

Summary: Private sector credit up 0.4% in May, in line with expectations; annual growth rate steady at 5.2%; ANZ: credit growth relatively steady over last year, slows from post-COVID above-average growth rates; ACGB yields fall; rate-rise expectations soften; owner-occupier segment accounts for ~50% 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...

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