Australia's consumer confidence weakened to the lowest level in more than four years in October despite interest rate reductions, survey results from Westpac showed Wednesday.
The Westpac-Melbourne Institute Index of Consumer Sentiment dropped to 92.8 in October from 98.2 in September. This was the lowest score since July 2015.
Typically, an interest rate cut boosts confidence particularly around consumers' expectations for and assessments of their own finances.
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