The Reserve Bank of Australia reported on Monday that total private sector credit in Australia increased by 0.5 percent in August, aligning with market expectations and reflecting no change from the previous month's figures.
On an annual basis, credit saw a growth of 5.7 percent in August.
Breaking down the components:
- Housing credit rose by 0.4 percent for the month and 5.0 percent year-over-year.
- Personal credit saw a modest increase of 0.1 percent for the month, with a 2.5 percent rise compared to the previous year.
- Business credit experienced a more notable rise, climbing 0.7 percent for the month and 7.7 percent year-over-year.
Additionally, broad money supply expanded by 0.4 percent for the month and 5.5 percent annually.
