Many of the root causes of climate change, such as deforestation and the loss of habitat, by increasing the chance of contact between people and wildlife also increase the risk of pandemics. As the United Nation’s One Health approach recognises, our health is closely connected to the health of the planet.
The most likely scenario is that household borrowing will continue to grow at a relatively subdued rate for some time yet. From the Reserve Bank’s perspective, this would be a welcome development.