Australia’s central bank says meetings with industry and community groups suggest rising prices and elevated interest rates are weighing on consumption and broader economic growth, according to internal documents dated from September through to November. “Retailers report that consumers, particularly those facing higher cost-of-living pressures, are more budget conscious in their spending,” the Reserve Bank said in a September 18 liaison update released under a Freedom of Information request on Wednesday. It said domestic tourism demand had slipped from high levels and a further softening is anticipated due to cost pressures and…
