May private credit up 0.4%; growth broadly stabilised

Summary: Private sector credit up 0.4% in May, in line with expectations; annual growth rate slows to 6.2%; Westpac: credit growth broadly stabilised at subdued pace; bond yields rise considerably; rate-rise expectations firm; owner-occupier lending segment accounts for 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 what...

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