Glenn Stevens, governor of the Reserve Bank of Australia, told the House of Representatives economics committee that further rapid increases in household debt could be "trouble"."We would surely be asking for trouble if we see a big step up (in household credit growth) from where we are," Stevens told the committee on Friday. " As you know, I have not been amongst the people who say that the present level of household debt relative to income or assets is disastrous.""I am not in that camp, but I am in the camp that says it is pretty high now."Growth in overall credit was around four per cent in the year to January 2014, while for housing overall it was around six per cent."Credit to households for investment in housing is [growing at] eight or nine per cent a year. I would say that is probably fast enough," Stevens said. Lenders are also "becoming more accommodating to potential business borrowers and few complain about availability of credit," he said."Monetary policy is very accommodative," he said. "The cash rate has been unchanged since August last year. It and most borrowing rates are at multi-decade lows. The sorts of things that are normally expected to result from low interest rates are increasingly in evidence.""Savers are looking for higher return assets as the yield on safe assets has fallen as asset prices have risen."Credit growth has picked up somewhat for households, and particularly for investors in housing, where it is running at an annualised pace of close to nine per cent."Construction of dwellings is set to rise, probably quite strongly," he said.