Australia - ANZ Roy Morgan Weekly Consumer Confidence: 111.8 (prior was 108.8)

Comes in at 111.8

• prior was 108.8, an 8 month low

A bit higher for this measure this wekk

Comments from ANZ chief economist Warren Hogan:

• "For monetary policy, soft consumer confidence presents a conundrum. It signals the economy remains sub-par and thus argues for more interest rate reductions.
• At the same time, consumer caution will put a question mark over the effectiveness of monetary policy.
• In the current environment Australians seem less inclined to respond to lower interest rates with higher borrowing and spending.
• In our view, the fall in the terms of trade since late last year, a still elevated currency and an expectation of a gradual drift up in unemployment points to the need for a further 25bp reduction in the RBA cash rate."