In another reminder that demand indicators on the lending side are not all bad, the Australian Bureau of Statistics reported yesterday that the value of commercial finance commitments, on a seasonally adjusted basis, increased 11.5 per cent in June 2013, following a rise of 3.4 per cent in May 2013.On a trend basis, commercial finance commitments increased 2.7 per cent.The Reserve Bank of Australia, in its quarterly Statement on Monetary Policy, issued on Friday, observed that the recent "pick-up in growth [in business credit] was mainly driven by the increase in credit provided by financial institutions, which, was boosted by the valuation effects of a lower Australian dollar on the stock of foreign currency loans."On the other hand, the RBA considered that "growth in business credit has remained subdued during the past year, consistent with the slow pace of business investment outside the mining sector."