Figures released today show that Australian consumer confidence fell the most in three months after the nation’s 4 biggest lenders raised mortgage rates.
The country’s sentiment index fell by 5% to 96.1, the lowest level since December.
PM Gillard’s plan to cut corporation tax for businesses with annual revenue of more than A$2bn may be blocked by the upper house senate.
The proposed cut would be from 30% to 29%
More news to follow.