Australian consumer confidence falls 2.4% in April due to inflation and high interest rates.

Australian consumer confidence has fallen 2.4% in April, according to the Westpac Banking Corp. survey, due to persisting inflation and 12-year high interest rates. The index has been below 100 for over two years, indicating increased pessimism among consumers. High inflation rates and the Reserve Bank's inability to rule out further interest rate hikes have contributed to the decline in confidence. However, tax cuts due to come into effect on July 1 may provide some optimism for consumers.

April 08, 2024
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