Consumer confidence fell 5 per cent in March, more than reversing the previous month's rise, as the effects of the banks' February interest rate rises filtered through to households. Although the RBA kept interest rates hold in February, dozens of lenders raised their standard variable rate in the days afterward, claiming that rising funding costs forced them to pass along the expense to borrowers. The banks' decision added another level of uncertainty to households already focused on shedding debt and increasing savings. The RBA kept interest rates on hold at 4.25 per cent again in March. The consumer confidence ... (full story)