Australia at risk from major global financial shock, Reserve Bank warns

Warning comes as central bank estimates fewer than one in 100 borrowers owe more on their home than its worth The Reserve Bank says households are well placed to weather the twin storm of rising interest rates and plunging property prices, but warned that Australia would not be immune from sudden collapse of the global AI investment boom. The central bank’s latest financial stability review – a biannual assessment of the financial system – said the “threats to global financial stability continue to mount”. Continue reading...