TOTAL credit provided to the private sector by financial intermediaries rose by 0.4 per cent in January, following a 0.3 per cent increase in December, the Reserve Bank of Australia (RBA) said.
Over the year to January, total credit rose by 1.3 per cent.
Housing credit rose by 0.7 per cent in January and increased by 8.2 per cent over the year, seasonally adjusted.
Credit in the housing sector rose in January due to growth in lending to both owner-occupiers and investors, the Reserve Bank said.
Other personal credit rose by 0.5 per cent in January and was up by 0.2 per cent over the year.
Business credit fell 0.1 per cent in January to be down by 7.8 per cent from a year earlier, the Reserve Bank said.
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Price drop means low interest ratesDollar down at close
