April 30, 2015
The housing credit market continues to grow in Australia to 7.3% on a year on year basis, whereas investor housing credit grew by 10.4%. However, personal credit remained unchanged against the previous year with a 6.2% increase and business credit slowed down during the last month by 0.2% to give an annual growth rate of 5.3%.
The above data suggests that monetary policy is working which means the Reserve Bank may cut rates again soon to try and stimulate personal and business credit. This is despite housing credit not requiring further impetus.