Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
AUSTRALIA DATA
The RBA credit aggregates for September show that while total credit continues to grow at a solid 0.7% m/m, that monthly rate has been gradually slowing over the year. The annual rate continues to rise though and is now at 9.4%, the highest in 14 years.
- Personal credit was flat in September after two monthly rises and posted its first annual increase since August 2015, which could be indicating that cost-of-living increases may be impacting the household balance sheet. This is likely to be an indicator to watch going into 2023.
- Owner-occupied housing credit continued to rise 0.5% m/m but investor housing growth moderated to 0.3% m/m after reaching 0.6% earlier in the year. Both now appear to have peaked in annual terms.
- Business credit growth is showing no signs of moderating and posted robust 1.3% m/m and 14.7% y/y increases consistent with solid NAB business conditions.
- Broad money growth has also slowed and is now up 7.5% y/y.
Australia credit 12-month ended % change
Source: MNI - Market News/RBA
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok