Australia Private Sector Credit Growth Hits 8.5% Year-on-Year in June

Australia's private sector credit growth accelerated to 8.5% in June, up from 8.2% in May, according to the Reserve Bank of Australia.

The increase reflects a broad-based rise in credit demand, driven by both housing and business lending. Housing credit has been supported by a resilient property market, while business lending has expanded as firms invest in capacity and inventory.

Reserve Bank of Australia (RBA) policymakers will likely monitor the trend closely as they decide on future cash rate moves.