Credit growth in Australia continues to meander along at a 12-month rate of around three per cent, with growth right on 3.0 per cent, seasonally adjusted, for the year to August 2011.Growth for the month was 0.2 per cent in August, the RBA said in its monthly financial aggregates released on Friday, down from 0.3 per cent in July.Growth in lending for housing, which increased 0.4 per cent for the month, continues to fade slowly, as the quarterly rate of change (shown in annualised form) in today's graph shows.Lending to business declined in August, a situation that was essentially unchanged, the RBA said.