SYDNEY (AFX) - Total credit provided to the private sector by financial intermediaries rose by 1.3 pct in January, following a rise of 1.1 pct in December, the Reserve Bank of Australia said.
The outcome compares with a consensus market forecast for a 1.0 pct increase in January from December.
Over the year to January, total credit rose 13.8 pct.
In January, M3 grew by 0.7 pct, while broad money increased by 0.5 pct cent.
Over the year to January, broad money rose by 8.1 pct.
In Australia, broad money is M3 plus borrowing from the private sector by non-bank depository corporations, less holdings of currency and deposits of non-bank depository corporations.
The RBA provided the following table:
Jan Dec Jan06/Jan05
Total credit +1.3 +1.1 +13.8
Housing +1.3 +1.0 +12.8
Other personal use +1.1 +1.6 +16.3
Business +1.4 +1.6 +16.3
bruce.hextall@xfn.com
blh/tr
© 2006 AFX News
