Most mortgage borrowers have now repriced onto higher interest rates as expected, with rising nominal incomes helping many households navigate this transition. However, some are doing it tough and reducing their spending or extending their repayment timelines in order to make ends meet, and a number of households are also facing heightened job uncertainty. Some businesses face ongoing pressure from increased costs and reduced economic activity. While non-performing loans to businesses have increased, they remain low by historical standards. Near-term risks to the agricultural sector have also eased following the … (full story)
