Australian Consumer Confidence Takes a Hit Amid RBA Caution on Rates

Core Insights - Australian consumer confidence has declined recently as the Reserve Bank of Australia decided to maintain interest rates and indicated that the inflation outlook may restrict further rate cuts [1] Group 1 - The Reserve Bank of Australia has kept interest rates on hold, which has contributed to the drop in consumer confidence [1] - The inflation outlook is a significant factor that may limit the possibility of future interest rate cuts [1]