Our strong position gives us a window of opportunity to make the adjustments needed to continue to prosper in a deleveraging world. But opportunities are only valuable if seized. First and foremost, that means reducing our economy’s reliance on debt-fuelled household expenditures.
Sources: ABS, RBA  Associated with the increasing size of the household sector's assets has been a run up in debt. Indeed, the capacity to borrow to acquire assets or to borrow against assets for other purposes has been a necessary condition for this dynamic to operate, and that capacity has been fostered by the relatively low level of interest rates.