51.   The rate of growth in household debt is already beginning to slow as households cut back their borrowing.

52.   U.S. household debt rose at a faster pace in January as Americans continued to rely heavily on their credit cards.

53.   U.S. household debt rose at a faster pace in February than the previous month as Americans racked up growing credit card bills.

54.   While lower mortgage rates can fuel starts, high levels of household debt are preventing many people from building a new home, he said.

55.   Consumer credit includes all household debt not secured by real estate.

56.   Consumer credit includes all household debts except home-equity loans, mortgages and others not secured by real estate.

57.   Consumer credit includes all household debt not secured by real estate, such as home equity loans and home mortgages.

58.   That includes the value of money in the bank and stocks and bonds, minus household debts other than mortgages, such as credit card balances.

59.   But he added that heavy household debt was likely to slow consumer spending, thereby curbing economic growth.

60.   But he warned that strong rises in Australian house prices had also fuelled a rapid expansion in household debt, a process that carried longer-term risks.