Aussies will soon be down $1300 a month, the Reserve Bank of Australia has conceded

by BoatSurfer600

Inflation and rising interest rates will make it tough for some people to repay their debts, and one group of Aussies will soon be down $1300 a month, the Reserve Bank of Australia has conceded.

Releasing its twice-yearly financial stability review on Friday, the RBA said there was a small group of borrowers who could fail to meet debt payments due to low savings and high levels of debt.

“Financial stress could be more widespread if economic activity turns out to be much weaker than expected,” the RBA said.

Source: www.news.com.au/finance/economy/interest-rates/financial-stress-reserve-bank-of-australia-makes-grim-prediction-for-borrowers/news-story/bf1dd4878f554522aa8a6cdcc92e3a81