Borrowers worse off now than when rates were 17%, says KPMG | ABC NEWS

New economic analysis has found that, over the past two years, Australian households have faced tougher conditions than they did when the RBA's cash rate reached 17.5% in 1989.

KPMG senior economist Terry Rawnsley says Gen X households faced the toughest interest rate burden during the global financial crisis.

But his analysis of Australian Bureau of Statistics data on home loans, personal loans and credit card interest payments over the past 40 years reveals that households overall have recently faced one of the heaviest interest rate burdens on record.



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