Source: ABC News

A leading survey of consumers shows confidence fell in May, despite the Reserve Bank keeping interest rates on hold for the sixth straight month.

The Westpac-Melbourne Institute index of consumer sentiment fell 1.3 per cent this month to 103.9.

It is the lowest level for the index since June 2010 - a month following three consecutive interest rate rises by the Reserve Bank.

Westpac's chief economist says the low level of confidence can be attributed to consumers bracing for a rate rise in light of recent media and economic commentary on Reserve Bank statements.

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