Private sector credit growth “firm and stable” in August

Summary: Private sector credit up 0.5% in August, in line with expectations; annual growth rate steady at 5.7%; Westpac: credit growth momentum firm and steady, above pre-pandemic levels; ACGB yields rise; rate-cut expectations soften, February cut still priced in; Westpac: still insufficient to generate a stronger GDP impulse; owner-occupier segment accounts for 50% of net growth. The pace of lending growth in the non-bank private sector by financial institutions in...

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