Consumers remain positive despite successive interest rate increased from the Reserve Bank of Australia and increases in home loan lending rates above and beyond the RBA in November by all major banks.
The Westpac – Melbourne Institute Index of Consumer Sentiment has bounced back 17 percent over the last two months as consumers burned by six RBA interest rate increases in nine months recover.
Westpac’s Melbourne Institute Leading Index has peaked, but will remain well above the long term trend of 3 percent over the next three to nine months, triggering fears of a rate rise in August.
Consumers’ inflation expectations have moderated to 3.3 percent in the July edition of the Melbourne Institute Survey of Consumer Inflationary Expectations.
Consumer confidence has continued to rise, despite steady increases in the official cash rate by the RBA since October last year. With continued growth in the labour market and a higher Aussie dollar key to the result. The Westpac-Melbourne Institute of Consumer Sentiment Index for March, which measures the perceptions of consumers towards their future […]
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