RBA Says ‘Buffers’ Shield Households From Global Risks: Economy
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Australian households are building a financial cushion by repaying mortgages faster and saving more, while businesses are indicating renewed willingness to borrow, the nation’s central bank said.
“Given the large share of households with mortgage prepayment buffers, along with relatively low unemployment and moderate income growth, most households appear well placed to meet their debt obligations,” the Reserve Bank of Australia said in its semiannual financial stability review released in Sydney today.