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Rate rise fears hit consumer confidence

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November 15, 2017

Fear of rising interest rates and political uncertainty are behind the fall in consumer confidence.

Fear of rising home loan rates and political uncertainty could be behind a monthly fall in consumer confidence, with pessimists now outnumbering optimists.

The Westpac Melbourne Institute Index of Consumer Sentiment fell 1.7 per cent in November to 99.7, ending the previous month's short-lived recovery and taking the index below the 100-point mark above which optimists outnumber pessimists.

Westpac chief economist Bill Evans said the citizenship saga in federal parliament and media coverage of possible mortgage rate rises may be unnerving households.

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