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SUPERANNUATION BORROWING UNDERPINS CREDIT RISE IN AUSTRALIA.

Publication: AsiaPulse News

Publication Date: 31-JUL-07
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COPYRIGHT 2007 Asia Pulse Pty Ltd

SYDNEY, July 31 Asia Pulse - Australian borrowing money to bump up their superannuation before the end of the financial year has underpinned a rise in private sector credit in June, economists say.

Figures released today by the Reserve Bank of Australia (RBA) showed total credit provided to the private sector by financial intermediaries rose 1.8 per cent in June, following a 1.3 per cent rise in May.

Over the year to June, total credit rose by 15.4 per cent.

Housing credit grew by 1.5 per cent in June and rose by 13.2 per cent over the year in...

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