Australia August Consumer Sentiment Boosted by Rate Cuts

Australia August consumer sentiment boosted by rate cuts

SYDNEY (Reuters) -A measure of Australian consumer sentiment improved sharply in August as the third cut in interest rates this year bolstered the outlook for finances and the economy, a survey showed on Tuesday. A Westpac-Melbourne Institute survey showed its main index of consumer sentiment climbed 5.7% in July to 98.5, the highest reading since early 2022. The reading under 100 means pessimists still outnumber optimists, though only just. The…

Australia’s Consumer Sentiment Surges After Third RBA Rate Cut

Australia’s consumer confidence surged in August after the Reserve Bank cut interest rates for the third time this year and signaled further easing is likely.

RBA rate cuts spark biggest confidence jump in 42 months of economic pessimism

After 42 months of consumer pessimism, confidence jumped to 98.5, just 1.5 points from positive territory. RBA rate cuts are working, economists say.

Australia Westpac Consumer Confidence rose from previous 0.6% to 5.7% in August

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Surprising group feeling good about rate cut

Australian consumer sentiment has soared to its highest level in nearly four years following the Reserve Bank’s latest rate cuts.

Australian Dollar weakens as consumer optimism requires more RBA cuts

The Australian Dollar (AUD) extends its losses for the second consecutive session on Tuesday. The AUD/USD pair depreciates despite an improved Westpac Consumer Confidence, which surged 5.7% in August to 98.5, following a 0.6% increase in July.