The Reserve Bank of Australia has reported a 0.3% monthly increase in private sector credit in March. This however, missed the projected 0.4% forecast and fell from the 0.5% increase seen in the previous month of February.
In an annual comparison, the credit witnessed a 5.1% rise. Breaking the details down by sectors, housing credit rose by 0.4% month-on-month and 4.3% year-on-year, personal credit had a 0.3% monthly increase and a 2.9% annual increase, while business credit saw an addition of 0.5% on monthly terms and a strong 7.0% on an annual basis.
The overall money supply, referred to as broad money, was up by 0.3% on a monthly basis and grew by 4.9% over the course of a year.
