Growth in loans to the private sector has kept up a steady pace in July. According to the latest RBA figures, private sector credit grew by 0.5%, down from June’s figure of 0.6% and in line with the market consensus figure. The year-to-July growth rate of 5.3% was slightly lower than June’s comparable figure of 5.3%. The increase was driven by owner-occupier loans, which increased by 0.5% over the month,...