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AAP
AAP
Business
Poppy Johnston

Financial pain not over by any stretch as fears mount

Anna Bligh Peter White ABA
ABA head Anna Bligh says banks expect to see more people unable to keep stretching their finances. (Dan Himbrechts/AAP PHOTOS) (AAP)

Financial hardship may still be below pre-pandemic levels but the head of the Australian Banking Association warns borrowers could suddenly reach a breaking point.

ABA chief executive officer Anna Bligh said rates of financial hardship, repossessions and defaults were still low compared to historical averages but banks had started recording a "slight uptick" in the 90-day default rate.

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