Bid to keep household debt in check

SINGAPORE: Some highly-leveraged households in Singapore may be vulnerable if interest rates rise or the economy slows, its central bank said yesterday, asserting it will take more steps if needed to keep household debt at manageable levels. Official data showed household debt was equivalent to 76.3 per cent of gross domestic product in the third quarter, compared with 71.9 per cent two years earlier. According to Bank of America Merrill Lynch, as at June 30, Malaysia’s ratio was 86.5 per cent and Thailand had 83.5 per cent. Reuters