Retirement
Major bank rates Australian investors’ confidence levels
Confidence is slowly consolidating in the Australian market, with modest falls this week after a short period of strong gains.
Major bank rates Australian investors’ confidence levels
Confidence is slowly consolidating in the Australian market, with modest falls this week after a short period of strong gains.
In research conducted by ANZ and Roy Morgan, consumer confidence fell 1.1 per cent in the last week, despite a cash rate cut and the passage of income tax offsets for middle income earners.
“Confidence fell 1.1 per cent, despite the RBA’s second rate cut. The passage of the tax cuts has also not been an immediate boost to sentiment. We need to put this in context, however. Consumer confidence rose sharply in the prior week and is above average, so some consolidation is not completely unexpected,” David Plank, ANZ head of Australian economics, said.
“Interestingly, confidence also fell immediately following the June RBA rate cut, suggesting the immediate takeaway from monetary easing is not necessarily positive. The mixed nature of last week’s data, with another trade surplus but soft retail sales, may also have contributed,” he added.
According to ANZ and Roy Morgan, confidence in current finances have increased by 3.7 per cent for the week, while confidence in future finances have also risen by 1.3 percent.
In contrast, metrics were down across other key economic indicators, including confidence about future economic conditions. However, these indices declines were not disappointing when compared to the gains of 13.3 per cent and 7 per cent, respectively, in the previous report.
RELATED ARTICLES
About the author
About the author
Retirement Planning
Empowering your future: Financial literacy and retirement planning in Australia
In today’s complex financial landscape, achieving a secure and comfortable retirement requires more than just saving money. It demands a deep understanding of financial concepts and the ability to ...Read more
Retirement Planning
How much do you need to retire comfortably in Australia?
Retiring comfortably in Australia is a goal shared by many, but achieving this requires careful financial planning and a clear understanding of the cost of living. Read more
Retirement Planning
Retirement planning advice for Australians: Avoiding common pitfalls
Retirement planning is a critical step in securing your financial future, but it's fraught with potential pitfalls that can derail even the best-laid plans. Read more
Retirement Planning
Mastering financial planning for retirement in Australia
Financial planning for retirement is a nuanced journey that requires careful consideration and strategic planning, particularly in Australia's unique financial landscape. Read more
Retirement Planning
Crafting your retirement planning spreadsheet in Australia
Retirement planning is a crucial aspect of financial management, especially in Australia where the landscape of superannuation and investments offers unique opportunities and challenges. Read more
Retirement Planning
Maximising your pension plan in Australia: Strategies for a comfortable retirement
In the ever-evolving landscape of retirement planning in Australia, securing a comfortable retirement through your pension plan has become increasingly important. Read more
Retirement Planning
Supporting our veterans: A guide to financial resources and benefits
Military veterans have made invaluable contributions to their country, and in recognition of their service, there are numerous financial resources and benefits available to support them in civilian ...Read more
Retirement Planning
The ultimate retirement planning checklist for Australians
Retirement planning is a multifaceted process that demands careful attention to financial, legal, and personal considerations. Read more
Retirement Planning
Empowering your future: Financial literacy and retirement planning in Australia
In today’s complex financial landscape, achieving a secure and comfortable retirement requires more than just saving money. It demands a deep understanding of financial concepts and the ability to ...Read more
Retirement Planning
How much do you need to retire comfortably in Australia?
Retiring comfortably in Australia is a goal shared by many, but achieving this requires careful financial planning and a clear understanding of the cost of living. Read more
Retirement Planning
Retirement planning advice for Australians: Avoiding common pitfalls
Retirement planning is a critical step in securing your financial future, but it's fraught with potential pitfalls that can derail even the best-laid plans. Read more
Retirement Planning
Mastering financial planning for retirement in Australia
Financial planning for retirement is a nuanced journey that requires careful consideration and strategic planning, particularly in Australia's unique financial landscape. Read more
Retirement Planning
Crafting your retirement planning spreadsheet in Australia
Retirement planning is a crucial aspect of financial management, especially in Australia where the landscape of superannuation and investments offers unique opportunities and challenges. Read more
Retirement Planning
Maximising your pension plan in Australia: Strategies for a comfortable retirement
In the ever-evolving landscape of retirement planning in Australia, securing a comfortable retirement through your pension plan has become increasingly important. Read more
Retirement Planning
Supporting our veterans: A guide to financial resources and benefits
Military veterans have made invaluable contributions to their country, and in recognition of their service, there are numerous financial resources and benefits available to support them in civilian ...Read more
Retirement Planning
The ultimate retirement planning checklist for Australians
Retirement planning is a multifaceted process that demands careful attention to financial, legal, and personal considerations. Read more
