“Further confirmation of anticipated slowing” from Sep. lending growth figures

31 October 2022

 

Summary: Private sector credit up 0.7% in September, in line with expectations; annual growth rate accelerates from 9.3% to 9.4%; provides further confirmation of anticipated slowing; “business credit growth will cool appreciably” as firms reduce investment in 2023; business loans account for nearly 60% of net growth. The pace of lending to the non-bank private sector by financial institutions in Australia followed a steady-but-gradual downtrend from late-2015 through to early...

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