Australia Consumer Sentiment Rises Amid RBA Rate Hold

Australian Consumer Sentiment Sees a Boost

Australian consumer sentiment saw a 2.8% rise in early August, contrary to expectations of a modest 0.5% increase. This improvement follows the Reserve Bank of Australia's (RBA) decision to keep interest rates unchanged, coupled with the benefits from recent tax breaks becoming more noticeable. However, despite this positive development, overall sentiment remained within the range observed over the past two years.