According to Westpac Senior Economist Matt Hassan, consumer sentiments can recover when a defining limit can be put around the inflation problem.
His comments come after consumer sentiments hit the lowest level in January since the early 1990s recession, as Australians face the rising cost of living and higher interest rates.
“We’ve picked up where we left off last year,” Mr. Hassan commented on the latest figures.
“Cost-of-living concerns, high inflation, high interest rates, rising tax repayments.“
“At the moment, it’s all about cost-of-living and interest rate concerns, so the day we can draw a line under the inflation issue and we get a signal that the next rates will be lower, I think we’ll get a bounce out of that.”
- Published By Team Australia News