Australia private sector credit growth steady in November

Australia's private sector credit growth for November 2025 increased by 0.6% month-on-month, matching expectations but slightly lower than the previous month's 0.7% growth. This result suggests the credit environment remains cautiously expanding, with no immediate signals for monetary policy changes. Stable credit growth is indicative of borrowing conditions, reflecting neither significant demand acceleration nor a downturn. The numbers imply that sustained interest rates have kept borrowing restrained without triggering drastic credit contractions. Market observers note that while private sector credit remains stable, it is primarily a secondary indicator for assessing broader economic narratives, such as inflation and labor markets, rather than a direct catalyst for policy shifts. The analysis presents that while a significant deceleration in credit growth might prompt discussions for easing, any resurgence could heighten concerns around household debt and inflation persistence.