Credit growth eases in March

The rate of credit growth slowed in March, falling slightly from an above average level in February.

Credit provided by financial institutions rose at a slower pace in March.

The value of credit outstanding to the private sector rose 0.4 per cent in March, from 0.6 per cent In February, figures from the Reserve Bank of Australia show.

Annual growth in credit was 6.4 per cent, up from 6.2 per cent in the prior year, thanks to a gradual pickup in lending to businesses.