US Federal reserve historical raising of interest rates by 0.25% after nine years , Fed chief Janet Yellen announces, will BoE to follow ? A recent survey carried on by NMG Consulting Survey on behalf of the Bank of England on The potential impact of higher interest rates and further fiscal consolidation on households: How households adjust to changes in the economy has important implications for both monetary policy and financial stability. This article reports findings on the current state of households’ balance sheets. It reports that while household debt is still high there has been a modest improvement in mortgagors’ balance sheet positions over the past year. For instance, the share of mortgagors with high debt servicing ratios has fallen and is now close to a historic low. And both mortgagors and renter households consider unsecured debt repayments to be less of a burden than a year ago. Using the survey responses, th...
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