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Australia’s Consumer Sentiment Drops as Rate-Cut Prospects Dim
Australia’s consumer confidence fell in March as households remain concerned about their finances and the near-term prospects for the economy, with little sign interest rates are about to begin coming down. Sentiment declined 1.8% to 84.4 points with pessimists heavily outweighing optimists given a reading of 100 is the dividing line, a Westpac Banking Corp. survey showed Tuesday. The index has held below 100 since February 2022. “Consumers are still deeply pessimistic and becoming more concerned about the economy’s near-term outlook,” said Matthew Hassan, a senior economist at Westpac. “Responses over the ... (full story)