Eight of the 10 voters with the most indebted households are in Labor-held seats, which could penalize the government if the Reserve Bank of Australia does not cut interest rates before the next federal election.

Investors increasingly expect the Federal Reserve won’t be able to start cutting interest rates until next May; That means Prime Minister Anthony Albanese may have to fight through almost an entire election campaign in which voters are still buckling under the pressure of 13 interest rate hikes.

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