Commonwealth Bank head Matt Comyn said mortgagees are reigning in their discretionary spending and dipping into savings
Follow our Australia news live blog for the latest updatesGet our morning and afternoon news emails, free app or daily news podcast
Young home owners who bought during the Covid-19 pandemic are pulling back their spending sharply as interest rates rise and cost of living pressures persist.
Commonwealth Bank of Australia head Matt Comyn has told a federal parliamentary inquiry many households are clearly feeling the strain, hauling in their discretionary spending and dipping into savings.
About Author
More Stories
Alfred may have blown Albanese’s election plans off course, but now the PM can show he has the common touch
When Cyclone Alfred forced a wildlife hospital to close, this rescue koala found a new place to recuperate
Internet shutdowns at record high in Africa as access ‘weaponised’