APRA has released its monthly banking statistics and it’s time they discontinued the series given it is humiliating their so-called macroprudential line in the sand of 10% growth in investor mortgages. Of the biggest six banks, only Bank of Queensland and Commonwealth are below the line and the others are accelerating above it with Macquarie leading the way at a preposterous 79% year on year growth up from 71% in February, NAB is second at 13.6% up from 13.3% in the month, Suncorp decelerated to 12.1% from 14.1%, ANZ and Westpac both accelerated from 10.2% to 10.4%:
The absolute monthly growth in loans by bank tells the tale:
That’d be your February rate cut in action and your abjectly captured prudential regulator in total inaction.