Irish private sector credit growth fell to its lowest rate in a year during August, the Central Bank has said.
The bank which has warned repeatedly of the risk to Ireland's fast growing economy from soaring lending, said the adjusted annual growth rate in August was 28.2 per cent versus 29.2 per cent in July.
Private sector credit - growing at around three times the euro zone average - rose by €3.6 billion last month, bringing the total outstanding to €297 billion.
Credit growth hit a six-year peak of 30.3 per cent in June.
The bank said August's rise - like June's and July's - would have been bigger had it not been for a lower than normal €1.4 billion increase in securitised residential mortgages.
Residential mortgages grew at their slowest pace since the start of the year, with the underlying growth rate easing to 27.1 per cent from 27.6 per cent in July.
Residential mortgages have risen by €16.2 billion since the start of the year, giving a monthly average of €2 billion compared to an average of €1.6 billion in the first eight months of 2005.
Non-mortgage credit moderated slightly in August but still rose faster than both private sector and mortgage credit.
The adjusted annual rate of growth was 31.7 per cent, down from 31.8 per cent the previous month.
Credit institutions in Ireland contributed €182 billion to the euro area's broad money supply (M3) in August, a monthly increase of €3.4 billion or €1.9 per cent.