This leads to credit growth falling to zero

via @PhilipSoos:

The RBA’s housing credit series fell to 4% in Mar-19. On present trends, it should decline to 3% by Dec-19, which is our baseline scenario. CCR 100% and seasonal factors could well drive it even lower. UBS are super-bearish to forecast 1% growth between 2019-2021.

 

 

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