Page 41 - Westpac News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Consumers are yet to shake off the negative attitude that first set in when interest rates started going...

Asian stock markets are mostly lower on Tuesday, following the mixed cues from Wall Street overnight, amid lingering uncertainty about the outlook for interest rates, with some US Fed officials warning the central bank may still need to raise rates if inflation persists.

The Australian stock market is modestly lower on Tuesday after opening in the green, giving up some of the gains in the previous session, following the mixed cues from Wall Street overnight.

Australia Westpac Consumer Sentiment index fell by -0.3% mom to 82.2 in May. Westpac highlighted that the primary takeaways from the May survey are "no let-up in the weak consumer environment" and the cautious mindset of consumers. Consumers are more inclined to use funds from fiscal measures to repair their finances rather than go on spending sprees, which aligns with RBA's efforts to bring inflation back to target.

Analysis - The Reserve Bank will update the official cash rate (OCR) on Wednesday.