Relying on the saving habits of foreigners.

This comment was made at Macrobusiness  (link may be locked – but there is a free trial available)

Good to see that deposit growth is holding up despite the RBA very working hard to convince the average Australian that they should be off chasing their fortunes in the stock market or borrowing cheap money from the banks to keep houses prices stable.

The banks may be able to fund some credit growth using domestic savings but all of it?

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