"Consumer confidence increased last week but remained lower than before the February RBA cash rate hike," ANZ Senior Economist Adelaide Timbrell said. "At 80.4, the Consumer Confidence Index was among the worst ten results in the 150 weeks since the initial COVID outbreak in Australia."
"The confidence among those paying off their mortgage is still lower than the other groups, at 73.8. Average confidence rose for all the three housing groups during the week, with gains of 1.4pts for people who own their home outright, 3.1pts for those paying off their mortgage, and 2.6pts for renters."
"Household inflation expectations softened to 5.1%, potentially a lagged response to the rise in interest rates."