Consumers Fret Over Interest Rate Hikes

Sale signs are seen outside shops during Black Friday sales at Chadstone Shopping Centre in Melbourne, Australia, on Nov. 25, 2022. AAP Image/Diego Fedele

The latest interest rate hike has shaken consumers as businesses report a strong start to the year.

Weekly and monthly consumer confidence surveys capture the February rate hike dragging confidence towards lows last seen in the early days of the pandemic.