Key points from Australia's private sector credit for October
By Sophia Rodrigues
Published On 29 Nov 2019 , 12:00 AMKey points from Australia's private sector credit growth for October, published by the RBA Friday.
--Business credit growth fell 0.1% m/m, first decline since Jan 2017. In y/y terms, business credit rose 2.7%, lowest rate of growth since April 2014 when it posted similar rise.
--Total credit growth rose 0.1% m/m, taking the y/y growth to 2.5% -- the lowest since April 2010.
--Other personal credit fell 4.7% y/y, the lowest since September 2009.
--Housing credit rose 3.0% y/y, the lowest on record.
--Investment housing credit fell 0.2% y/y, the biggest drop on record. To put into context, the biggest gain on record for investor mortgage is 39.9%.
LATEST SNIPPETS
Australia consumer confidence falls to over 4-yr low
Australian consumer confidence fell 2.8% in the week to November 25, to the lowest level in over four years, data fro...
Published on : 26 Nov 2019 , 10:04 AMWestpac economists expect Australia house prices to rise 5% in 2020
Economists at Westpac expect Australia's house price upswing to continue in 2020, rising 5%, but with getting cap...
Published on : 25 Nov 2019 , 11:55 AMMoody's warns profits of big four Australian banks under pressure
Profitability of the big four Australian banks is under pressures from low interest rates amid weak credit growt...
Published on : 25 Nov 2019 , 03:35 PMAustralia Oct Labor Data Dovish for RBA Dec Meeting
Australia's unemployment rate rose to 5.3% in October from 5.2%, due to 19,000 fall in employed numbers. This was...
Published on : 14 Nov 2019 , 12:00 AMWhy RBNZ will Hold OCR at 1%
I am a bit surprised with market reaction to RBNZ's inflation expectations survey yesterday. While I acknowledge...
Published on : 13 Nov 2019 , 12:00 AMMarket Pricing for RBNZ Cut --How Much is "Will do"?
In their markets outlook on Nov 11, economists at BNZ wrote, "RBNZ shouldn’t cut this week but probably wi...
Published on : 13 Nov 2019 , 12:00 AMWhat does RBA's Gentle Turning Point Refer to?
RBA Governor Philip Lowe first referred to gentle turning point at the Parliamentary testimony in August when he said...
Published on : 07 Nov 2019 , 12:00 AMExpect Dovish RBA Statement, Refined Forward Guidance
It is very unusual for both market and economists to be strongly expecting a particular outcome (hold) for a RBA boar...
Published on : 05 Nov 2019 , 12:00 AMAustralia: More Reason to Buy vs Rent Dwelling
More reason to buy vs rent? For the first time since at least 2007, gross rental yields for properties in Australia&#...
Published on : 01 Nov 2019 , 12:00 AMWill RBA Debate Further Easing at Nov Meeting?
Even before the RBA Nov board meeting begins, I am curious to find out if there will be a vigorous debate about...
Published on : 30 Oct 2019 , 07:21 AM