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Australian consumer sentiment worsens amid Trump's tariffs
Australian consumer sentiment hit a six-month low in April, driven down by US President Donald Trump's tariffs and general stock market volatility.
Sentiment fell 6% to 90.1 points, a survey by Westpac Banking Corp showed. After the United States announced trade restrictions, confidence among respondents declined by 10%.
Bloomberg reports that Trump's tariffs have caused turmoil in financial markets, from stocks to currencies and bonds. Traders now expect the Reserve Bank of Australia to cut interest rates four times this year. At the same time, the news agency notes that a major monetary easing of 50 basis points is likely to take place as early as next month.
A separate survey of businesses showed that in March, Australian companies were cautious about the outlook for the economy. Their confidence level remained negative and well below its long-term average.
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