Consumer confidence ‘worst in 3.5 years’

InvestSmart Chief Market Strategist Evan Lucas says “the fires have had a big impact on the economy” in 2020. Mr Lucas told Sky News “consumer confidence numbers are the worst we’ve seen in three and a half years". He said numbers had been declining since June last year and "some people put that down to the RBA and the fact that it is cutting rates". “We have been conditioned basically since the John Howard era, that raising rates is good for the economy, and falling rates is obviously bad," he said. Image: Getty

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