Credit growth minimal again in February
Overall credit growth was just 0.1% in February while lending on mortgages grew $189 million, down from the $379 million growth in January, and was up just 1.2% on February last year.
Credit growth has been just 0.1% in five of the last six months and the odd month out showed zero growth.
In contrast, total household deposits rose $355 million in the month and were up 8.5% on February last year.
The credit numbers are seemingly at odds with other figures such as the central bank's mortgage approvals data, which shows approvals running at 18.2% higher than at the same time last year and rising house sales.
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