economy Australia
RBA warns global risks outweigh housing risks to financial stability
1% of borrowers
Borrowers in negative equity accounted for less than 1 per cent of borrowers.
The RBA said Australian borrowers remain generally able to withstand falling house prices, but warned overseas risks including an AI investment shock, bond-market sell-off, conflicts, cyber attacks and climate disruption could cause broader financial instability.
2 sourcesabc.net.au, The GuardianUpdated
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The Reserve Bank of Australia said the main threats to Australia's financial stability come from overseas.
2 of 2 sources“These external factors are the most prominent threats to financial stability in Australia.”
- 4.6%
The Reserve Bank of Australia raised its cash rate to 4.6 per cent.
“the bank increased its cash rate to a 15-year high of 4.6 per cent”
- 2% of borrowers
Variable-rate owner-occupier mortgage borrowers with a cash flow shortfall accounted for less than 2 per cent at the end of June.
“less than 2 per cent of variable-rate owner-occupier mortgage borrowers had a "cash flow shortfall"”