Australian private sector credit growth decelerated more than anticipated in December. Total private sector credit growth eased to 0.2 percent sequentially from November’s 0.3 percent. On a year-on-year basis, the growth rate moderated to 4.3 percent from 4.4 percent.
Housing sector credit growth came in stable at 0.3 percent, whereas the year-on-year growth came in at 4.7 percent, down from 4.9 percent. The further decline in housing credit is consistent with the view that house prices will continue to fall through 2019, said ANZ in a research report.
Investor credit rose 0.1 percent sequentially, while owner-occupier credit growth came in stable at 0.4 percent sequentially. On a year-on-year basis, owner-occupier credit growth decelerated to 6.5 percent – the worst result since September 2015. The business sector credit growth decelerated to 0.3 percent sequentially, while the annual growth rate rebounded to 4.7 percent from 4.4 percent.
At 11:00 GMT the FxWirePro's Hourly Strength Index of Australian Dollar was highly bullish at 102.187, while the FxWirePro's Hourly Strength Index of US Dollar was slightly bearish at -64.1951 more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
