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APRA has this morning released its September monthly banking statistics and the results show some stability. Month on month growth rebounded to 1%:
However, year on year is still only tracking at just above 6%:
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The aggregates have returned to trend:
In terms of the major segments, not much to report. The household growth rate was steady, non-financials corporates rebounded and financial kept on:
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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.