Malcolm Turnbull backs RBA warning as household debt hits new record
Household debt is rocketing towards 190 per cent of disposable incomes, ramping up pressure on the Reserve Bank of Australia and regulators to take action that avoids a US-style debt crisis.
Prime Minister Malcolm Turnbull endorsed Reserve Bank governor Philip Lowe's warning that household debt is rising too fast and linked the high burden of servicing loans to the need for the Commonwealth to manage its debt.
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