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Why Australian household savings have dropped to a 17-year low?
Credit: Getty Images Credit: Moppet/Getty Images
If you're having trouble saving money, you're not alone. Australia's household savings ratio has dropped to a 17-year low, with Australians now saving only 1.1 per cent of their disposable income. Vinod Mishra, Head of the Department of Economics at Monash University, and Bill Mitchell, Professor of Economics at the University of Newcastle, shed light on the reasons behind this trend and why the RBA is being held accountable.
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