RBA Seen to Hold Rate as Consumer Sentiment Still Weak: Chart

RBA Seen to Hold Rate as Consumer Sentiment Still Weak: Chart

(Bloomberg) -- Australia’s weakening consumer sentiment may leave Reserve Bank of Australia little option but to keep its benchmark interest rate unchanged at a record-low 1.5 percent on Tuesday. The country’s consumer confidence reading in August was at its weakest level since 2008, although indicators for business conditions are in the opposite direction at a nine-year high.