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View story 2 0 Don't splurge on rate cut: debt agency http://news.smh.com.au/business/dont-splurge-on-rate-cut-deb... Submitted by cij 2 months, 2 weeks, 2 days, 15 hours ago Hear! Hear! "Consumer debt, though, was still too high in Australia, Mr Mendelson said. "That is an underlying problem in the country," he said. "Higher interest rates help to keep the pressure on the consumers to reduce spending." Consumers should use the extra cash courtesy of the recent fall in rates and any future cuts to repay their debt, Mr Mendelson said." Tags: debt, interest rates comment (0) | Category: Economics/Finance | Add cij as a source Comments Votes (my sources) Votes (Everyone) Add your comment Add your comment If you already have an account, sign in: Email address: Password: If you don't, just complete these fields: (or join Contrarian Investors' News for free) Your name: Your site: (optional) Your comment: (You have up to 5000 characters left) Can you see the 5 most prominent letters/numbers in this image? (case insensitive) Please enter them here: « go back

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