Investing.com – Australian home loan approvals fell slower than expected in April, official data showed on Wednesday.
In a report, the Australian Bureau of Statistics said that the number of loan approvals for new homes fell 1.8% in April, following a drop of 2.9% in March, whose figure was revised down from a decline of 3.4%.
Analysts had expected a fall of 1.9 in April%.
The data may spur the central bank to leave the country’s benchmark interest rate unchanged in July, following six rate hikes between October and May.
Following the release of the data, the Aussie was down against the U.S. dollar, with AUD/USD shedding 0.37% to hit 0.8246.
In a report, the Australian Bureau of Statistics said that the number of loan approvals for new homes fell 1.8% in April, following a drop of 2.9% in March, whose figure was revised down from a decline of 3.4%.
Analysts had expected a fall of 1.9 in April%.
The data may spur the central bank to leave the country’s benchmark interest rate unchanged in July, following six rate hikes between October and May.
Following the release of the data, the Aussie was down against the U.S. dollar, with AUD/USD shedding 0.37% to hit 0.8246.