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Australia’s Consumer Sentiment Jumps on Rate Pause, Tax Cuts
Australia’s consumer confidence climbed to a 20-month high in February as expectations that the Reserve Bank has concluded its campaign of interest-rate hikes and the government’s revamped tax cuts buoyed households. Sentiment advanced 6.2% to 86 points, though pessimists still outweighed 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. “While sentiment is still firmly pessimistic there finally looks to be some light at the end of the tunnel,” said Matthew Hassan, a senior economist at Westpac. “Moderating ... (full story)