Australia Consumer Confidence Plunges 20% After RBA Rate Rise

Australian consumer sentiment fell roughly 20% following the RBA's fourth rate rise this year, reaching its weakest level since the early-1990s recession. Weakening demand signals—services PMI fell to 51.9 yesterday—now pair with collapsing confidence, testing whether inflation expectations remain anchored. Traders watch for AUD reaction and whether wage growth moderates next.