Confidence down but rate cut could help

Further rate cuts from the Reserve Bank could give consumers something to smile about in coming months, ANZ's chief economist says.

Lower petrol prices aren't doing much to stoke consumer confidence, but lower interest rates might.

Confidence fell 0.7 per cent last week, after falling 0.4 per cent in the previous week, according to the latest ANZ/Roy Morgan consumer confidence survey on Tuesday.

ANZ chief economist Warren Hogan said lower petrol prices had failed to spur confidence but further rate cuts from the Reserve Bank could provide a boost in coming months.