Australia July Westpac-Melbourne Institute Consumer Confidence 93.1

  • up from June's 92.6

WPAC comments, in summary:

  • optimism remained muted after the Reserve Bank unexpectedly held interest rates steady at 3.85%
  • sentiment was stronger before the RBA decision but dipped afterward, reflecting lingering caution
  • views on family finances improved
  • longer-term economic confidence softened
  • willingness to make major purchases fell — suggesting consumers remain cautiously pessimistic overall
Reserve Bank of Australia Governor Bullock RBA 23 October 2023

No rate cut at the last RBA meeting vs. widely expected. Maybe next time!

Source: Forex Live