Lower income households worst hit by rising interest rates and inflation, RBA finds
by Jonathan Barrett from World news | The Guardian on (#6AHJ7)
Reserve Bank's report says renters and recent borrowers with larger debts have experienced most financial stress
Rising interest rates and high household expenses are weighing disproportionally on renters, first home buyers and those on lower incomes, and there is little relief in sight, new analysis from the Reserve Bank of Australia shows.
The RBA found that while most households and businesses were managing in the inflation-hit economy, the resilience was not uniform.
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