Australia Aug private sector credit up 0.9 pct vs July, up 14.4 pct yr-on-yr

Total credit provided to the private sector by financial intermediaries rose by 0.9 pct in August from July, following a rise of 1.2 pct in July, the Reserve Bank of Australia said. It said in the year to August total credit rose by 14.4 pct. The consensus forecast was for a 1.1 pct rise month-on-month. In July total private sector credit was up 14.8 pct year-on-year In August M3 grew by 1.2 pct and broad money rose 1.3 pct. Over the year to August broad money rose by 10.5 pct . In Australia, broad money is M3 plus borrowing from the private sector by non-bank depository corporations, less holdings of currency and deposits of non-bank depository corporations.