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AAP
AAP
Jacob Shteyman

Surprise rate hold another blow for consumer confidence

CBA Commonwealth Bank Belinda Allen
Spending growth remains sluggish and isn't expected to improve while interest rates stay on hold. (Joel Carrett/AAP PHOTOS)

Fresh data shows soft consumer spending is taking longer than expected to recover and won't be helped by the Reserve Bank's surprise decision not to cut interest rates.

Household spending grew 0.3 per cent in June, according to the Commonwealth Bank's latest household spending insights index released on Thursday.

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