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MNI BRIEF: RBA Says Financial System Robust

MNI (SYDNEY) - Australia’s financial system remains robust despite indicators of household financial stress increasing, the Reserve Bank of Australia's Financial Stability Report revealed Thursday. 

“Overall, households have remained resilient to the effects of high interest rates and inflation. However, pockets of stress remain, and debt-servicing and cost-of-living pressures continue to disproportionately affect lower income households,” the reported noted. (See charts) "Budget pressures from high inflation and restrictive monetary policy continue to be felt across the Australian community, but the share of borrowers experiencing severe financial stress remains small."

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MNI (SYDNEY) - Australia’s financial system remains robust despite indicators of household financial stress increasing, the Reserve Bank of Australia's Financial Stability Report revealed Thursday. 

“Overall, households have remained resilient to the effects of high interest rates and inflation. However, pockets of stress remain, and debt-servicing and cost-of-living pressures continue to disproportionately affect lower income households,” the reported noted. (See charts) "Budget pressures from high inflation and restrictive monetary policy continue to be felt across the Australian community, but the share of borrowers experiencing severe financial stress remains small."

Keep reading...Show less