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Rate cuts lift Australian consumer confidence
Consumer confidence has surged to a 19-month high as the Reserve Bank's 1.5 percentage points of interest-rate reductions boost household optimism, a private survey shows. The sentiment index for November gained 5.2 per cent to 104.3, a Westpac and Melbourne Institute survey taken November 5-11 of 1200 adults showed today. The index rose above 100, which indicates optimists outnumber pessimists, for the first time since February, ending an eighth-month skid below that level that was the longest stretch since the global financial crisis. The survey is ... clearly signalling a boost to confidence around the housing ... (full story)
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