Federal debt load 'pushing against' AAA boundary, warns NAB
The Commonwealth's growing debt load is rapidly approaching the point at which Australia will lose its AAA credit rating, warns a report by NAB.
Two of the nation's big four banks have warned the federal government risks losing the patience of credit agencies, whose AAA rating for Australia has helped underwrite some of the lowest household mortgage rates on record.
With politicians likely to be tempted into new and underfunded spending promises in the looming federal election, National Australia Bank's global head of policy research, Peter Jolly said Commonwealth debt was now "pushing against ratings agencies' AAA boundary".
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