Australian deposit growth firms in March

Tuesday, 30 April 2013

APRA has released its monthly banking statistics for March and growth improved slightly on the month to 0.6%, the best score this year:

It is good to see life in the market despite the lure of rising asset prices. Still, the trend towards lower growth is well intact in the year on year chart at 6.9%:

The aggregate total is also showing a slowing trend:

A welcome better month but I do expect growth to continue to fall as interest rates do.

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.