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.

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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