(Bloomberg) -- The share of Australian borrowers in severe financial stress remains small with the vast majority still able to service their debts, the...
-- The share of Australian borrowers in severe financial stress remains small with the vast majority still able to service their debts, the Reserve Bank said in a half-yearly review, while highlighting other areas of threat to the banking system including from China.Waiting for the Miracle of Church-to-Housing Development
“International experience has highlighted the danger of boom-bust asset price cycles, particularly those amplified by the widespread use of borrowed money,” the RBA said. “Residential property stands out in this regard.” “Financial pressures are expected to ease,” the RBA said, pointing to tax cuts that kicked in on July 1 and slower inflation. “However, the expected easing in labor market conditions and subdued growth in activity are likely to present challenges for some households and businesses.”
If inflation was to remain high for longer than forecast, the share of borrowers most at risk of being unable to service their debts would increase only slightly, the review found. A larger-than-expected increase in unemployment would lead to greater financial stress though risks to the broader financial system would likely remain contained, it said.
VATICAN CITY — Pope Francis took the unusual decision Wednesday to expel 10 people – a bishop, priests and laypeople -- from a troubled Catholic movement in Peru after a Vatican investigation uncovered “sadistic” abuses of power, authority and spirituality.PHILADELPHIA — Nick Castellanos, Trea Turner and Kody Clemens homered, and the Philadelphia Phillies beat the Chicago Cubs 9-6 on Wednesday night and clinched a first-round bye in the playoffs.
Financial Stress Australian Households Reserve Bank Negative Equity Mortgage Borrowers
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