Consumer confidence jumps to ‘highest level’ in two and a half years

Commsec’s Market Analyst Laura Besarati says consumer confidence has reached its highest level in two and a half years since the Reserve Bank started hiking interest rates. Today’s data has shown consumer confidence jumped by 6 per cent in October. “The reason that we did see confidence growing is because things are starting to look up,” Ms Besarati told Sky News Business Reporter Edward Boyd. “Consumers are no longer worried about the RBA hiking interest rates but now it’s just a matter of time before they actually cut.”