Coming up at 0030GMT from Australia, housing finance data and also the NAB business survey (February)
For home loans:
- Home loans expected is -2.0% m/m, prior was %
- Investment lending -1.5% m/m, prior was -4.6%
- Owner-occupied loan value 0.0% m/m, prior was -6.4%
Says RBC:
- The very large decline in housing finance in January saw the underlying trend weaken further with total approvals declining since late 2017. This largely reflects the tightening in lending standards that have been in place for the last 12 months. The partial Australian Bankers Association data hint at another fall in January and we expect housing finance approvals to have declined by another 2.5% in the month.
Chart via Westpac shows the slowdown:
