Borrower demand fell more than bank's willingness to lend - RBNZ

Tue, 14 Jul 2020

Demand for residential mortgages and personal loans contracted more than banks' willingness to provide them in the six months ended June while demand for capital spending loans from business also shrank but demand for working capital loans and stand-by facilities rose. Demand for commercial property loans also contracted more than banks' willingness to lend and banks expect these conditions will continue through to the end of this year, the Reserve Bank said. Demand for loans from dairy farmers shrank sharply but while banks expect demand...

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