Vast majority of borrowers servicing their debts but arrears could grow if economy slows more than expected, bank saysFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe number of Australians in financial stress is “small” but will be “magnified” if the economy slows more than expected or interest rates linger higher for longer, the Reserve Bank has warned.While overseas challenges – including a faltering Chinese economy – could also upset forecasts, Australia’s financial system continued “to display a high level of resilience”, the bank said in its semi-annual financial stability review.Sign up for Guardian Australia’s breaking news email Continue reading...
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