SYDNEY – Australian consumer sentiment turned sour after a surprise hike in interest rates this month, a survey showed on Tuesday, with consumers becoming worried about prospects of unemployment amid the warning of more rate increases to come. The Westpac-Melbourne Institute index of consumer sentiment rose 0.2 percent in June to 79.2, steadying near recession lows and suggesting pessimists greatly outnumbered optimists. But the slight improvement masked a significant difference in sentiment readings before and after the Reserve Bank Australia's decision to hike by another quarter-point on June 6, with the confidence reading coming in at 72.

https://business.inquirer.net/405129/australian-consumer-mood-turns-sour-in-june-after-latest-rate-hike

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