Ric Battellino, the deputy governor of the Reserve Bank of Australia, on Thursday said the rate of credit growth in Australia was expected to remain in single-digit range for some time.

At an address to the Annual Stockbrokers Conference in Sydney, Australia, he said: "In the economic climate likely to be faced by banks over the next few years, solid economic growth but with cautious behaviour by households and relatively low inflation, it would be reasonable to assume that the rate of growth in