Australian EconomyAustralian interest rates

Consumer confidence bombs ahead of rates decision

Leith van Onselen
Tuesday 3 May 2022
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Aussie consumer confidence has bombed ahead of today’s rates decision by the RBA, according to the ANZ/Roy Morgan Research consumer confidence index.

As shown in the next chart, Aussie consumer confidence crashed by 6.0% over the last week as annual headline inflation surged by 5.1%:

Aussie consumer confidence

Commenting on the result, ANZ’s head of Australian economics, David Plank noted:

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.