Call for interest rate cut in matter of months after 'soft' household spending in March

The Commonwealth Bank has called for the RBA to cut interest rates in September after it found household spending remained soft last month.

CBA's household spending insights (HSI) index, which uses transaction data from 7 million of the bank's customers, rose by just 0.2 per cent for March, it announced today.

That leaves it lower than November levels despite a boost brought about by the Easter long weekend.

Know More: https://www.9news.com.au/finance/spending-data-australia-march-2024-hopes-interest-rate-cut/32c19b0e-ae85-4cd4-9ca6-8b81fa4bbba8