Australian Consumer Confidence Hits 1990s Lows Following RBA Rate Hike

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Source: Dukascopy Bank SA
Australian consumer confidence has plunged to its lowest level since the 1990s recession following the Reserve Bank of Australia's fourth interest rate hike this year. Driven by borrowing costs reaching 2011 highs and surging fuel prices, family finances took the hardest hit, leaving mortgage holders the most pessimistic and raising concerns over declining household spending, even as job vacancies remain strong.
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