On the morning of April 11, Australia's April Western Pacific Consumer Confidence Index was released at a monthly rate of 0.0%, expected 0.8%, the published value is 9.4%, far exceeding expectations, the highest since June 2022。In addition, Australia's NAB Business Sentiment Index recorded 16 in March..0, in line with expectations, with a previous value of 17.0; March NAB Business Confidence Index from previous value of -4.0 raised to -1.0。

After the data was released, Alan Oster, chief economist at National Australia Bank, said the data showed the Australian economy was still growing but inflation had slowed.。He also said there was still a long way to go to bring inflation down to the RBA's target range.。

The Reserve Bank of Australia has an inflation target of 2-3%, compared to the recently released monthly figure of 6.8%。

Last Tuesday, the RBA announced a pause in rate hikes, keeping the policy rate at 3.6% level, becoming the first major developed country central bank to suspend interest rate hikes since the outbreak of the banking crisis.。

The RBA said there was a lag in monetary policy and that the impact of the previous sharp rate hike had not yet been fully felt, so it decided to keep rates unchanged this month to allow more time to assess the impact of the rate hike and the economic outlook, but the central bank reiterated that further monetary policy tightening may be needed in the future to ensure that inflation returns to target levels。

RBA Governor Philip Lowe (Philip Lowe) said again today that the RBA will closely monitor data on inflation, employment, consumer spending and business surveys before deciding to raise interest rates further。

The Australian dollar received a boost during the day, despite the impact of the rate hike pause, against the backdrop of improved consumer sentiment。In addition, the currency was also lower in the day as improved economic conditions weakened the dollar's safe-haven properties。The dollar's decline is expected to be limited as the Fed is expected to raise interest rates in May.。

For the RBA, today's data is undoubtedly good news。On the one hand, the market's resilience is further consolidated by the news of the suspension of interest rate hikes, on the other hand, due to the sticky effect of the previous interest rate hikes, the market's inflation situation has also improved, which creates conditions for the future "soft landing" of the Australian economy.。

Australia, US and Japan up 0 as of press time.38%, reported 0.66667。