EconomyAustralian consumer confidence plunges to worst level since 1990s after RBA rate rise

Australian consumer confidence has fallen to its weakest level since the late 1990s after the Reserve Bank of Australia’s fourth rate rise this year. The Westpac–Melbourne Institute index dropped 4.7% to 80.4 in October, while responses collected after the RBA decision fell to 67.2. Analysts linked the decline to borrowing costs, living expenses and higher fuel prices, warning that household consumption could contract further.

Australia economyconsumer confidenceReserve Bank of Australiainterest rates

TThe Guardian★★★☆☆2026-10-06 05:54Original