June credit jump reminiscent of March 2020 rise

Summary: Private sector credit grows by 0.9% in June, above expected figure; annual growth rate rises from 1.9% to 3.1%; owner-occupier loans, business loans account for much of net growth; increased business lending in June may have similar drivers as in March 2020; housing credit growth continues, business loans up, personal loans down.   The pace of lending to the non-bank private sector by financial institutions in Australia has been...

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