Login or request a free trial

NZ credit growth slowing

New Zealand credit growth slowed again in August as the effects of the Reserve Bank of New Zealand's monetary policy tightening and its controls on riskier mortgage lending continued to drag on demand. The RBNZ reported annual household lending growth slowed in August to five per cent from 5.1 per cent in July and is down from 5.7 per cent in October when the Reserve Bank imposed mortgage controls. Farm lending growth fell to 3.0 per cent from 3.5 per cent in July and is down from 4.2 per cent in October.Business lending growth slowed to 3.9 per cent in August from 4.2 per cent in July, but is up from 2.2 per cent in October.

I'm a returning subscriber

Password reset
Login

Request a free trial

  • Emailing you the news at 7am.
  • Covering core lending and funding issues, strategy, payments, regulation, risk management, IT, marketing and more.
  • Original news and summaries of major stories from other media – ditch your newspaper subscriptions.
  • Focused on banking and finance, saving you the time spent wading through newspapers and other services.
  • With reporting from former editors and senior writers from the AFR and The Australian.
  • Configured for your phone, laptop and PC.
Free trial Banking Day