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Consumer confidence picks up

AAP logoAAP 1/08/2016 Garry Shilson-Josling, Economist

The ANZ-Roy Morgan index of consumer confidence has bounced to a four-week high, recovering from the slump the followed the UK's vote to leave the European Union.

"This likely reflects rising speculation of a rate cut at the RBA's meeting this week after a weak Q2 CPI report which saw inflation hitting its lowest levels in 17 years," ANZ economist Jo Masters said."In addition, stronger equity markets were also likely helpful in lifting confidence."

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