Hey Guys it me. So I found this really interesting article and I thought I should share it with you guys because its super informative and many times we dont hear about Aussy land especailly in relation to Japan... so I hope you all digg this!
Loans from Australian banks to consumers and businesses increased in November, according to a report from the Reserve Bank of Australia on Thursday.
Private sector credit rose by 0.1% month-over-month in November, faster than the previous month's flat reading. Nevertheless, the pace of loan expansion slowed on a year-over-year basis, rising only 0.8% compared to October's 1.1% pickup.
The housing sector was the largest beneficiary, picking up 0.7% from October, while loans to businesses fell by 1.0% on the month.
The news bodes well for the Australian dollar given that rate hikes from the central bank have not hindered lending activity in the country.
Although not a top tier economic indicator, USD/AUD rose 7 pips on the release to 0.8964.
Trading nevertheless remains thin on the last trading day of the year, with Japanese markets closed and the Sydney Stock Exchange closing early.
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