Swan warns banks to ease mortgage strain for consumers
Updated
Australia is in financial trouble, and that’s going to cost consumers, the Res더킹 카지노erve Bank of Australia has warned, but if people want a higher rate of return, they should take an extended holiday.
Key points: The Bank of Australia is warning people to make an extended holiday
Australia’s consumer debt is $US17 billion, almost a third of the world’s total, according to Credit Suisse
If that happens, Australia’s consumer debt could rise to nearly $US25 billion, the Central Bank is worried
Key points: The Bank of Australia is warning people not to break their holiday plans
RBA expects to lower b인터넷 바카라orrowing rates for a third time in six months
The banks are also worried the government온라인바카라사이트‘s interest rate cut is causing a delay in payment of loans on time.
It would be similar to the Bank of England cut last week, but for Australia.
But with interest rates in the US at record lows, the Bank of Australia is now warning people to make an extended holiday, not just to avoid a drop in the real rates.
“We want to reduce interest rates as soon as reasonably possible in 2017 to make it easier for people to borrow more for life,” it said.
The move would make borrowing from the private markets less expensive for Australians, allowing households to borrow more without paying them more money to do so.
That would ease the pain of those on an average salary who would have been paying interest rates close to 30 per cent and with interest payments as high as 50 per cent from this year.
In its latest policy assessment, the Australian Bureau of Statistics (ABS) is warning households to make an extended holiday, or break it if they are serious about buying their future.
Consumer debt rises to nearly $US17 billion (around US$US17.5 billion) on a scale that’s nearly twice that of Germany’s GDP, according to the Central Bank.
It is expected to rise to more than $US26 billion in 2018 from the current level of around $US17.4 billion, the Australian Bureau of Statistics said.
The bank also said people who are already struggling to pay a mortgage or debt to the size of a car could face increasing pressures.
It predicts the cost of paying off such debts, based on what they could be worth at today’s prices, could reach $US11,800 in 2018.
Some have even suggested the rat
