AAP General News (Australia)
02-27-2004
Fed: Credit binge continues as RBA considers a rate rise
By Shane Wright
CANBERRA, Feb 27 AAP - Australians are continuing to borrow heavily for homes and run
up debts on their credit cards with new figures out today putting pressure on the Reserve
Bank to lift interest rates.
The Reserve Bank board meets next week, a month after deciding against another interest
rate rise to follow its two quarter of a per cent increases of last year.
Today's credit figures suggest the rate rises have not dampened demand, especially
in the housing and credit areas, enough.
Credit grew 1.3 per …
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