Private credit growth up 0.5% in April

Summary: Private sector credit up 0.5% in April, slightly above expectations; annual growth rate steady at 5.2%; Westpac: credit growth less than post-2000 average, more than post-GFC average; ACGB yields fall; rate-cut expectations firm; owner-occupier 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...

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