SYDNEY (Reuters) - Australian households are burdened with very high levels of debt and sluggish income growth which leaves them vulnerable to economic shocks, a top central banker said on Tuesday.
Reserve Bank of Australia (RBA) Assistant Governor Michele Bullock said that high levels of debt meant households would be very sensitive to any rise in official interest rates and the central bank would take this into account when considering monetary policy.
The head of the RBA recently noted that the next move in rates was more likely to be up than down and households needed to be aware of the risks.
(Reporting by Wayne Cole, editing by G Crosse)
