Australians can bear rising borrowing costs – RBA deputy

Michele Bullock
Reserve Bank of Australia deputy governor Michele Bullock

Australian households are in a “fairly good position” to repay their debts amid rising interest rates, Reserve Bank of Australia deputy governor Michele Bullock said today (July 19).

Households had saved around $260 billion Australian dollars (US$179 billion) since the pandemic began, giving them “large liquidity buffers” against interest rate rises, the official told an audience in Brisbane.

Government support, reduced spending and low interest rates were the main factors helping households

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