sydneyconfidence among australian consumers was slightly weaker last week ahead of what is expected to be the reserve bank of australias 10th consecutive rise in official interest rates to combat the biggest cost of living rise in over 30 years consumer confidence decreased by 01 points last week to 799 a level consistent with recession according to a survey by anz bank and pollster roy morgan the rba is widely expected to raise its official cash rate to 360 from 335 but moneymarket traders are watching the central banks guidance which turned more hawkish in february the rbas policy announcement is scheduled for later today at 0330 gmt recent soft inflation gdp growth and labor market data have raised the possibility that the rbas guidance might be tempered somewhat moneymarket traders are betting that the ocr will rise to a peak well above 40 that may change if the rbas guidance is altered the confidence data show weekly inflation expectations were unchanged at 52 onyear last week sentiment around current financial conditions declined 15 points while future financial conditions increased slightly by 03 points current economic conditions fell 12 points consumers were more downbeat on the time to buy a major household item which dropped 27 points the survey showed the weekly anzroy morgan australian consumer confidence rating is based on 1494 interviews conducted online and over the telephone during the week to sunday