Australia - Weekly consumer confidence index -4.5% to its lowest since April 2020

This is the ANZ-Roy Morgan Australia Consumer Confidence weekly survey

• fell 4.5% to its lowest since Apr 2020

ANZ remarks:

• after the RBA increased interest rates to 1.85%
• Household inflation expectations increased 0.1ppt to 5.6% despite petrol prices falling for a fourth week

• Confidence dropped as rates went up again last week. The story has been unchanged for some time really - sentiment is exceptionally low. But so far this year it has been a poor guide to consumer behaviour, ie, spending.