100 is the line that separates pessimism (below 100) from optimism (above 100).

ANZ comments:

  • Confidence is edging higher as inflation expectations fall. The 'easy' gain may be close to an end given the recent bounce in oil prices. A big acceleration in wages growth is probably the key to taking confidence back to its long run average. We think it will happen.

ANZ's accompanying graph:

aud confidence 20 April 2022