Australian Home Lending Now Weakest Since the Mid-1980s
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Australian home lending slowed to the weakest since President Ronald Reagan and Prime Minister Margaret Thatcher dominated the global arena in the 1980s.
Loans to buy houses advanced just 0.2 percent in January from the prior month, according to monthly financial aggregates released by the Reserve Bank in Sydney Thursday. That was the lowest level since July 1984, when Australia was initiating a deregulation campaign to kickstart a moribund economy.