Credit Growth by Country
Latest released Credit Growth value for every supported currency, with the previous reading, the change between releases, reference date, frequency, unit, and source.
/api/v1/announcements/{currency}/credit_growth. Non-USD endpoints require an API key query parameter.| Country / Currency | Latest | Previous | Change | Reference | Frequency | Unit | Source |
|---|---|---|---|---|---|---|---|
|
Australia
AUD · Australian Dollar
|
8.1
31 Mar 2026
|
7.8
28 Feb 2026
|
▲ +0.3 | 31 Mar 2026 | Monthly | Percent YoY | RBA |
What is Credit Growth?
Credit growth measures the year-over-year change in total credit extended to the private sector (households and non-financial firms) or to the broader economy depending on the series.
Why it matters for FX
Credit creation is the operational mechanism through which monetary policy reaches the real economy. Sustained credit contractions are tightening signals that historically precede recessions; sustained accelerations support growth and sometimes inflation. Both feed into the central-bank rate path and therefore into the currency.
How to read this page
Compare credit growth to nominal GDP growth. Decompose between household credit (mortgages dominate) and business credit (working capital, capex). Growth above nominal GDP is expansionary.
What to watch for
- Year-over-year change vs nominal GDP
- Household vs business credit decomposition
- Sectoral concentration (real estate, energy)
- Bank-lending standards surveys alongside
- Non-bank credit channels