Credit growth to the household sector As I said to you in July, credit growth continues to be a concern - especially credit for property-related purposes. The continuation of current rates of credit growth to the household sector, well in excess of the corresponding rates in other countries, will inevitably lead to a more highly indebted household sector in this country.
This underlines the need for both lenders and borrowers to stress-test every borrower’s ability to repay these debts, not just in the economically favourable circumstances that exist today, but also in more challenging circumstances.