INTEREST RATES AND INFLATION WEIGH ON CONSUMER CONFIDENCE
The Westpac Melbourne Institute Index of Consumer Sentiment fell by 0.9% to 95.8 in April. That followed a 4.2% fall in March. Although inflation and interest rates are still weighing on confidence the fall was alleviated by a generally positive response to the Federal Budget, strong confidence around the labor market, and a fall in petrol prices. Confidence in the housing market continues to deteriorate.