Australia’s Private Sector Credit Growth Holds Steady in April

2026-06-05 10:24 By Joana Ferreira 1 min. read

Australia’s private sector credit growth remained flat at 0.7% month-over-month in April 2026, according to a delayed report from the Reserve Bank of Australia.

The figure slightly beat market forecasts of 0.6%.

Annually, growth dipped marginally to 8.0% from 8.1%, yet continued to signal resilience in private credit despite higher interest rates and economic uncertainty.

Housing credit, representing 62% of total credit, grew by 0.6%.

Investor credit led the way, rising 0.9% and pushing annual growth to 10.2%, the first double-digit increase since 2015.

Owner-occupier credit growth stayed steady at 0.5% month-over-month and 6.2% year-over-year.

Business credit, accounting for 34% of private credit, increased by 0.7%, while other personal credit, making up 4%, rose by just 0.1%, marking the second-weakest performance since late 2024.

Looking forward, credit growth is expected to slow due to higher energy prices, rising inflation, and tighter monetary policy from the RBA.



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