Aussie Consumer sentiment jumps 5.6%: Likely increase of Interest Rates on 2nd Feb

from MoneyTrading.com.au

Three consecutive rate rises have done little to hurt consumers, with sentiment rising by 5.6% in January to 120.1 points, according to the latest Westpac-Melbourne Institute consumer sentiment survey.

The index rose from 113.8 points to 120.1 in January, with Westpac chief economist Bill Evans saying the result is above the level recorded in September before the Reserve Bank of Australia began to raise interest rates.

We expect to see another rate hike of 0.25% to be announced by the RBA on 2nd Feb.