Forex Flash: Australian credit release reduces chances of a cut next week - NAB (Barcelona) - Australian private sector credit growth came higher-than-expected in December, +0.4% vs NAB forecast flat, market +0.2%, leaving the yearly change at 3.6%, 0.1 bp higher than the 3.5% in November.

NAB strategists note: "For the RBA, the key release today was the credit release, and the bounce in business credit has reduced the chances of a cut next week. But credit growth remains soft and the outlook for the domestic economy remains soft, so it’s a question of when, not if, the RBA cuts the cash rate again."

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