Swedish minister ‘not alarmed’ by household debt levels | Reuters

Sweden does not need drastic steps to bring down household borrowing, the financial markets minister said on Tuesday, taking a more relaxed attitude than some central bankers who see consumer borrowing as a cause for not cutting interest rates.

Swedes have debts equal to about 170 percent of disposable income and several rate-setters have expressed concerns that the level is a risk to economic stability.

“Debt levels are high but not alarming,” Financial Markets Minister Peter Norman told Reuters.

via UPDATE 1-Swedish minister ‘not alarmed’ by household debt levels | Reuters.

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