Australian data - private credit +0.5% m/m (expected +0.4%)

Private sector credit data for August from the Reserve Bank of Australia

up 0.5% m/m

• expected was +0.4%, prior +0.4%

Up 4.5% y/y

• expected 4.3%, prior 4.4%

More detail:

Housing credit off the boil, tighter lending restriction will be playing a role here, as are slowing house prices (falling actually). Business credit growth slower also. This won't be as welcome.