The RBA's half yearly Financial Stability Review urges banks not to chase higher risk business because of a lending slow down.
And, most interestingly, a subtle look into our future:
"Australian people had become more prudent in their spending and saving habits.
Many households continue to prefer saving and paying down their existing debt more quickly than required, which has contributed to household credit growth being more in line with income growth in recent years," it said.
But it warned that households should continue to consolidate their balance sheets, to ensure the most vulnerable could withstand any shocks in the future, such as loss of income or falling house prices."
Now I know the RBA thinks itself supreme but how many Mr/s average Australian would be reading an RBA document?
None, they're too busy paying down debt, paying cash for everything and giving banks the flick.
Ever had that feeling of being blindfolded and standing on the edge of a cliff?
A subtle warning from the RBA isn't a subtle warning
