Australian consumer confidence plummets to a 4-month low as the RBA raises cash rate

The ANZ – Roy Morgan consumer confidence survey is conducted weekly.

Comes in this week at a horrid 74.3,

• down 3.5 points from last week’s 77.8
• 74.3 is the lowest in four months

Last week saw the Reserve Bank of Australia raise its cash rate yet again after four months of pause. Petrol (gasoline) prices jumped 40 or so cents per litre also. Neither of these events made consumers more confident.