Analysts at ANZ note that the Australian private sector credit growth was steady at the headline level in January as the total private sector credit growth was steady at 0.2% m/m.
Key Quotes
“The annual growth rate slowed to 4.3%, from 4.4%.”
“Housing sector credit growth slowed to 0.2% m/m (from 0.3%). This put annual growth at 4.4% – the slowest since 2013. Investor credit growth was steady at 0.1% m/m (and 1% y/y). Owner-occupier credit growth slowed to 0.3% (from 0.4%), with annual growth of 6.2%.”
“Business sector credit growth was steady at 0.3% m/m. Year-on-year growth was 5.2%, improving on December’s 4.9% rise.”
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