Our Scans · (FS.6.02) Personal Debt & Liabilities · Weekly Summary

• Global Public Debt: Projected to reach USD 315 trillion in 2024, global debt encompasses borrowings by households, businesses, and governments, driven by factors like the Covid-19 pandemic and rising commodity prices. EDUREV.IN
• While Australian banks remain well-capitalized and household financial stress has eased slightly, rising home prices and growing household debt could become a concern if financial conditions continue to loosen. IPAG
• The Bank of Canada consistently cites elevated household debt as a key vulnerability for financial stability. Everything Mortgages
• With elevated interest rates intersecting with high debt loads, the share of disposable income going to debt payments has risen well beyond comparable levels in other Group of Seven countries, limiting household spending in other categories and compounding Canada's vulnerability to external shocks. The Globe and Mail
• The OECD expects French GDP growth to slow from 1.1% in 2024 to 0.9% in 2025 as government efforts to bring down high levels of national debt through tax increases and spending cuts weigh on businesses and households. The Guardian
• Quebec households have a high level of debt, and despite signs of relief in borrowing costs on the horizon, their purchasing power will remain limited. Royal LePage Blog | Canadian Real Estate News
• Chinese household debt has risen at an alarming pace as property values have soared, analysts say, raising the risk that a real estate downturn could send shockwaves through the world's second largest economy. CNBC
• Norway experienced strong growth both in home prices and household debt levels, posing a threat to financial stability. CEPR
• Household debt payments will continue to rise in 2024 as the lagged impact of earlier interest rate hikes filters through to borrowing costs. RBC Thought Leadership
• High levels of household (and corporate) debt can pose risks to the UK financial system through two main channels: lender resilience and borrower resilience. Bank Underground
• We expect the increase in number of consumer and commercial filers seeking bankruptcy protection to continue in 2024 given the runoff of pandemic stimulus, increased cost of funds, higher interest rates, rising delinquency rates, and near historic levels of household debt. The Wealth Advisor
• The combination of higher interest rates and inflation will make it more challenging for households and businesses to service debts, although banking systems globally are generally expected to remain resilient. Reserve Bank of Australia
• People across the UK will face a record level of debt in the coming years, with the average household expected to owe nearly £17,200 by 2026. The Big Issue
• As the Chart of the Week shows, countries with high levels of household debt and a large share of borrowing issued at floating rates are more exposed to higher mortgage payments resulting in a higher risk of defaults. Eurasia Review
• An adverse shock to the Canadian economy would make it more difficult for households to service their debt and could also reduce their net worth and their access to credit. Bank of Canada
• The main risk to the consumer spending outlook for 2024 is the high debt levels of households in an elevated interest rate environment, which may constrain their ability to spend on other goods and services. Thailand Business News
• High holdings of wealth could be considered a source of support for households, especially against record levels of household debt in Australia. Amp
• A major wild card for Canada, with its high levels of household debt, is the rising impact of high interest rates on mortgage costs. The Globe and Mail
• Today's Fed rate hike means that borrowers will continue to see higher interest rates too, on mortgages, credit card debt, and personal loans. NextAdvisor with TIME
• A severe recession and years of emergency borrowing left Greece with a whopping national debt that reached 400 billion euros last December and hammered household incomes, which will likely need another decade to recover. financialpost
• The proportion of households with high mortgage COLA-DSRs - an awfully technocratic term which just measures how living costs affect people's ability to service debts - is expected to increase throughout 2023 but will still stay below its 2007 peak. Institute of Economic Affairs
• The proportion of total households with high consumer credit COLA-DSRs has slightly increased over the past year, from around 9% to around 10%, and, assuming constant levels of debt, it is expected to remain broadly flat for the remainder of 2023. Bank of England

Last updated: 24 June 2025