Credit Growth Continues to Slide, But a Post Election Rebound is Likely and Welcome
Worryingly, private credit system growth continues to slow with the Reserve Bank of Australia, or RBA’s, print of 3.7% for the year to April 2019 the weakest since October 2013. The RBA data includes all banks and non-bank lenders. Housing credit growth continues its downward slide with year-on-year growth of 3.9%, with owner-occupier growth a solid 5.5% offset by weak investor lending growth of just 0.6%. Business credit growth is holding around 4.5% levels and personal credit growth remains ne...
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