We look at the latest stats from RBA and APRA on credit growth. Home
lending is STILL growing at 3.9% per annum – yet we are about to stir up
the monster some more – “you cannot be serious!”
https://www.rba.gov.au/statistics/frequency/stmt-liabilities-assets.html
https://www.apra.gov.au/publications/monthly-banking-statistics
Once again on the last working day we get the latest credit
data from both the RBA and APRA. And fair enough, this is before the election,
and the recent spate of “unnatural acts designed to kick start credit growth,
but the trends before this are clearly down.
Here we are talking about the net stock of loans – rather than new loan
flows (so we see the net of old loans closed, refinanced, and new loans written).
We will need to wait for the ABS series in a couple of weeks to get the flow stats.
The RBA provides an overview, and a seasonally adjusted
series, including the non-bank sector. APRA provides data for the banking
sector – ADI’s or authorised depository institutions.