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AAP

Business

Kat Wong

'Softer' year ahead as spending and loan growth slow

New home loan values have continued to rise, but at a slower rate, the ABS says. (Joel Carrett/AAP PHOTOS)

The economy appears to be softening ahead of the Reserve Bank's first rates announcement of the year as growth in spending and home loan values decelerates.

The Australian Bureau of Statistics' lending data released on Friday shows the value of new loans has continued to rise, but at a slower rate.

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