Australia September Private Sector Credit Rises 0.6% MoM, Beats 0.5% Forecast

The beat is modest, but the composition matters more than the headline: credit growth running at a steady pace suggests lending demand has not cracked despite the rate environment. For Australian banks and anyone tracking household leverage, the question is whether this resilience reflects genuine borrowing appetite or simply the cost of servicing existing debt. Watch whether the monthly pace holds or reverts, and whether business lending keeps carrying the growth.