The RBA has released its August lending data and the recent bottoming of aggregates is turning to a little acceleration with year on year growth rates up across the board. Total credit is up to 3.4% from 3.2% in July, owner occupiers and investors mortgages and business borrowing are all up 0.1% to 4.2%, 5.9% and 1.4% respectively, personal credit lifted 0.4%to 0.9%.
There’s a little life in the old girl yet:
With deposit growth falling, if this goes on into the new year, we’ll be all outta money quick smart.
