Central Bank report shows continuing fall in level of household debt

A new report from the Central Bank shows that households are continuing to reduce their levels of debt.

The latest Quarterly Financial Accounts from the bank say the liabilities fell by 1.1% during the final three months of last year.

It means the total indebtedness of households stands at almost €185bn, or an average of just over €41,000 each.

The study also shows that the overall level of debt has fallen by 13% since the peak at the end of 2008