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REPEAT:Australia RBA: Pvt Sector Credit Growth Up on Biz Loans 

Repeats Story Initially Transmitted at 01:53 GMT Jul 31/21:53 EST Jul 30
--Private Sector Credit +0.6% M/M in June
     SYDNEY (MNI) - Private-sector credit data for June published by the Reserve
Bank of Australia on Monday:
                                 June           May          June           May
-------------------------------------------------------------------------------
                         % Change m/m  % Change m/m  % Change y/y  % Change y/y
Total Credit                     +0.6          +0.4          +5.4          +5.0
Housing                          +0.5          +0.6          +6.6          +6.6
-Owner-occupier Housing          +0.5          +0.6          +6.2          +6.1
-Investor Housing                +0.4          +0.5          +7.4          +7.5
Business                         +0.9          +0.3          +4.4          +3.1
Other Personal                   -0.1          -0.1          -1.4          -1.4
     FACTORS: Total private-sector credit accelerated in June, marking the
highest m/m rise this year thanks to an increase in business credit that was the
highest since December 2016. The latest month saw an easing in mortgages growth
as investor credit slowed to a pace last seen in July last year, and
owner-occupier loan growth also eased. The switch from investor to
owner-occupier mortgages continued, with A$1.3 billion worth of mortgages moving
in June compared with A$1.4 billion in May. Partly explaining the continued
switch is a rise in mortgage rates for investor loans in the past few months. 
     TAKEAWAY: The rise in business credit in June and a slowing in investor
mortgages are both likely to please the Reserve Bank of Australia. The data also
showed other personal credit growth continues to ease. While this is good for
household balance sheets, it also poses downside risk for the RBA's household
consumption growth forecast. 
--MNI Sydney Bureau; tel: +61 2-9716-5467; email: sophia.rodrigues@marketnews.com
[TOPICS: MTABLE]
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