December private credit up 0.4%; “year of subdued growth”

Private sector credit up 0.4% in December, in line with expectations; annual growth rate increases to 4.8%; Westpac: rounds out year of subdued growth; ACGB yields fall significantly; rate-cut expectations harden; owner-occupiers, business segments each account for around 45% 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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