In Australia and other countries with relatively high household indebtedness, this is consistently cited as a key risk to financial and macroeconomic stability. Concerns about the risks posed by household debt appear regularly in the press, and in reports from financial analysts and global institutions.
These concerns have been heightened by the deep global contraction induced by COVID-19. Households across the world are experiencing a significant drop in income, and the extent of the risk posed by the current levels of household debt will become more apparent.
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Pandemic pain in the pockets of pensioners
