Australia Sentiment Index Falls 12.5% in April

Westpac-Melbourne Institute Consumer Sentiment Index dropped 12.5% to 80.1 in April, its steepest monthly fall since COVID‑19.
Fuel price surge and rates caused a 16.7% drop in the family‑finances sub‑index to 66.8 and a 15% fall in purchase intent.
Over 80% of respondents expect higher mortgage rates within 12 months, while unemployment expectations rose 9.7% to a five‑year high.
Analysts anticipate a further 25 basis‑point RBA rate hike at the May 4‑5 meeting, with more tightening likely later in 2026.