Australian household spending bounced in January, but it was not enough to offset the previous month's fall. The Australian Bureau of Statistics reported that the monthly household spending indicator (MHSI) rose to A$78.98 billion, a rise of only 0.4%, following a fall of 0.5% in December. The annual pace of spending growth also slowed to 4.6%, the lowest since May last year, from 5%. Consumer spending decreased by 0.3% as consumers pulled back on buying motor vehicles and services. Despite this, the Reserve Bank of Australia is expected to maintain its 3.85% interest rate.