Total Australian Credit


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Total Australian Credit outstanding includes all debt and equity outstanding of the domestic non-financial sectors.

Total Australian Credit has grown from AU$787.7 billion in December 1989 to AU$6.3 trillion in December 2016; an increase of a little over 800% over a 27 year period.

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An April Cash rate cut is looking more likely


The 30, 90 and 180 Bank Accepted Bills (BABs) have all dipped below the Cash rate in recent days. This will put pressure on the RBA to reduce the Cash rate this coming Tuesday when it goes to board for this month. Chart 5.1 shows the BABs rates against the Cash rate for 2015:

Chart 5.1
Preliminary research indicates the annual inflation rate rose to 1.5 per cent last month, which is still below the RBAs 2 to 3 per cent target range. This also supports the case for a lower cash rate this month.

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