Australia’s private sector credit grew 0.7% month-on-month in October 2025, surpassing both the previous month and market expectations of a 0.6% rise. Credit growth accelerated for business lending (0.8% vs 0.5% in September), remained steady for housing (at 0.6%), and eased for personal loans (0.2% vs 0.5%). On an annual basis, private credit grew by 7.3%, accelerating slightly from a downwardly revised 7.2% in the prior month, marking the fastest expansion since January 2023.