So don't believe everything you read about financial stress: stress is declining and the rate cuts have been working.
In the December quarter bankruptcies fell to their lowest level since December 1994.
There were just 3,385 bankruptcies in the December 2019 quarter, for a -10.6 per cent decline on the prior year.
I previously broke out the personal insolvency figures for Western Australia, but they're on the mend now too.
Insolvencies are clearly improving, and on a per capita basis they're improving a lot.
Good to see.
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