Consumers debt-shy

Australians remain cautious about taking on new debt despite the Reserve Bank slashing the cash rate to a record low, with the value of credit card purchases falling to their March levels. The value of credit card purchases in June fell to $20.3 billion, down from $22.6 billion in May, RBA statistics released on Monday showed.

Australians remain cautious about taking on new debt despite the Reserve Bank slashing the cash rate to a record low, with the value of credit card purchases falling to their March levels. The value of credit card purchases in June fell to $20.3 billion, down from $22.6 billion in May, RBA statistics released on Monday showed.

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