And even the credit cooperatives and savings banks, which depend comparatively heavily on interest business, were able last year to increase further both operating income and net interest income. This they succeeded in doing by expanding credit business on the asset side of the balance sheet and by shifting financing on the liability side to transferable deposits bearing a lower rate of interest.
The left-hand side of the next chart shows the RBA's forecast for non-mining business investment prepared in February last year together with the actual outcomes (Graph 8). The right-hand side shows the same for consumption.