Australia Westpac consumer sentiment rose 1.9% to 109.1 in February. The index hit a 10-year high at 112.0 in December, then retreated to 107.0 in January. February’s bound-back “signals that consumer remains extraordinarily confident”, noted Westpac.
Westpac said RBA’s move to extend the QE program by AUD 100B in February, not in March, “emphasises the Board’s commitment to providing as much support as necessary to assist the economy in closing the output gap that has opened up during the pandemic.”
It expects further extensions of QE after RBA’s next program completes in October.
