Australia Retail Sales Rise More Than Forecast

Australia Retail Sales Rise More Than Forecast

Ian Waldie/Bloomberg

The longest stretch of retail sales increases since 2010 may encourage Reserve Bank of Australia Governor Glenn Stevens to extend this week’s rate pause after 75 basis points in reductions in May and June. Policy makers are trying to support confidence that has weakened among consumers who are saving, even as Australia recorded its best January-to-May period of hiring in five years.