The Reserve Bank says key financial-stress indicators suggest most households are comfortably shouldering the economic slowdown, with many paying down debt as they cut spending.

Most economists expect the official interest rate to stay on hold at 4.75% until after Christmas unless the global market meltdown accelerates.

In its September 2011 Financial Stability Review, the RBA was resolute that the increasing savings rate and cautious approach to spending among Australian consumers would help the economy withstand weakness in Europe and the US.