March credit update “confirms turning point”

30 April 2021

 

Summary: Private sector credit grows at moderate rate in March; above expected figure; update confirms credit cycle turned “decisively”; fall in annual rate the result of base effects from March 2020; housing credit growth continues, business & personal loans up.   The pace of lending to the non-bank private sector by financial institutions in Australia has been trending down since late-2015. Private sector credit growth appeared to have stabilised in...

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