Private credit up 0.6% in August; “elevated” home loan growth a concern for RBA

30 September 2021

 

Summary: Private sector credit grows by 0.6% in August, just above expected figure; annual growth rate rises from 4.1% to 4.7%; businesses currently accessing credit lines to boost cash; owner-occupiers, business loans again mostly account for net growth; investor loans up modestly again, personal loans down; housing loan growth “elevated”, outstripping income growth, thus a concern for RBA. The pace of lending to the non-bank private sector by financial institutions...

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