Login
ISCOVER
Demand for credit grew at its fastest pace since March in last month on the back of the Reserve Bank’s rate cut, data showed today.
According to Reserve Bank’s monthly aggregates demand for credit rose 0.7 per cent in September compared to 0.5 per cent in August and a low of 0.4 per cent this year in July.
On an annual basis, credit growth now stands at 10.1 per cent as of September, compared to 15.4 per cent in September 2007.
Published: 31-10-08
Today's other news
- ANZ pulls 80pc LVR low docs
- New home sales recovery on horizon
- Seventy per cent of mortgage industry fears further downturn
- Government says banks can help ease liquidity problems
- Negative growth pushes US towards official recession
- Slow-down normal, outlook positive: RBA
