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Australian Private Sector Credit in line with market forecasts

Friday, Dec 30 2016
Australian Private Sector Credit in line with market forecasts

The total amount of new credit issued to consumers and businesses in Australia rose last month, official data showed on Friday. In a report, Reserve Bank of Australia said that Australian Private Sector Credit rose to a seasonally adjusted 0.5%, from 0.5% in the preceding month. Analysts had expected Australian Private Sector Credit to rise 0.5% last month.

Following the introduction of an interest rate differential between housing loans to investors and owner-occupiers in mid-2015, a number of borrowers have changed the purpose of their existing loan; the net value of switching of loan purpose from investor to owner-occupier is estimated to have been $47 billion over the period of July 2015 to November 2016, of which $0.9 billion occurred in November 2016. 

More in this category: « Unemployment Claims fell to 265,000 Spanish CPI 1.5% in December »

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