Down under: Household debt at record level

verfasst von marsch, 22.04.2002, 13:43

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<tr><td><font face="Arial"><font size=5>Household debt at record level </font></font><div align="Justify">

Mon, Apr 22 2002 8:09 PM AEST

Australians remain vulnerable to rising interest rates, with household debt at a record level.

Australian households have increased their debt to one of the highest in the western world, accounting for 119 per cent of disposable income.

A report by international credit rating agency Standard and Poor's shows household debt jumped 20 per cent in the final quarter of last year, to $559 billion.

But incomes have not kept pace, according to Fabienne Michaux from Standard and Poor's.

"In terms of actual debt servicing capability they are exposed more, and more vulnerable to interest rate rises than in the past," she said.

Australia's inflation rate is expected to stay at the top of the Reserve Bank's target range when first quarter figures are released on Wednesday, adding further justification for higher interest rates.


http://www.abc.net.au/news/business/2002/04/item20020422195126_1.htm
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• Down under: Household debt at record level - marsch, 22.04.2002, 13:43