Page 27 - David Plank News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Economists from all four major banks have revised their cash rate forecasts following the RBA’s meeting this week, suggesting that the cash rate will start rising from June.

This week ANZ-Roy Morgan consumer confidence increased by 2.3 points to 93.4 after petrol prices dropped approximately 30 cents per litre. But consumer confidence is still 14.3 points below its level from the same week a year ago.

The decision to leave rates at 0.1 per cent this month was expected, but financial markets tip they’ll rise to 1.75 per cent by the end of the year and 3 per cent by August next year.

Retailers have welcomed the sugar hit of short-term cost-of-living measures, but requests by the Australian Retailers Association for key initiatives fell on deaf ears.

Consumer confidence has fallen almost 20% in a year, reaching levels not seen since Victoria’s second wave of COVID-19 in September 2020.