Australia's consumer confidence index rose 5.3% in November, reaching a new high in two and a half years.

According to data from Jint十, CreditorWatch's chief economist Kelleher stated that a survey by Westpac-Melbourne Institute indicated that Australia's consumer confidence index rose by 5.3% in November, reaching its highest point in two and a half years.

This growth may reflect the favorable impact of the government's income tax cuts on July 1, as well as market expectations that interest rates will not rise further. However, there is not much evidence in the data to support a quick rate cut by the Reserve Bank of Australia.