ANZ Head of Australian Economics, David Plank, commented:
“Confidence took a fall last week after the lower CPI data. The weekly reading on inflation expectations fell to 3.8%, though the four-week moving average ticked up to 4.1%, as a low result from five weeks ago dropped out. Inflation expectations have been trending lower since late last year and have been below 4% three times in the last five readings, which is unprecedented in the history of the ANZ-Roy Morgan survey. We think this highlights the challenge facing the RBA.”
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Confidence jumped by a healthy margin of 3.6% last week, taking the index to its highest level since December.
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The margin of error to be allowed for in any estimate depends mainly on the number of interviews on which it is based. Margin of error gives indications of the likely range within which estimates would be 95% likely to fall, expressed as the number of percentage points above or below the actual estimate. Allowance for design effects (such as stratification and weighting) should be made as appropriate.
25% or 75%
10% or 90%
5% or 95%