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

https://mins.news/en/item/87457

- The Guardian, 2026-10-06 05:54 UTC
- Economy
- Original: https://www.theguardian.com/australia-news/2026/oct/06/consumer-confidence-index-interest-rate-rise-australia-rba-housing-renter-mortgage

> 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.