European Economics

European Economics Focus

11 July, 2017

Could households withstand higher interest rates?

Household debt has remained elevated in the euro-zone as a whole, but there has been significant deleveraging in the countries that needed it most. Given positive trends in the labour market, we expect households across the region to withstand ECB policy tightening relatively well. But this rests on the assumption that the Bank waits until 2019 to start raising interest rates.

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