According to CoinMeta, Australian household spending increased by 7.0% year-on-year in July, far exceeding market expectations, which further enhances the likelihood of a interest rate hike by the Reserve Bank of Australia (RBA). Household spending also grew by 1.1% month-on-month, nearly three times the 0.4% growth rate predicted by economists. This strong performance of the data may drive market expectations for an interest rate hike by the RBA. Despite the continuous growth in household spending, private capital expenditure data released on the same day showed a quarterly contraction of 3.6%, indicating a real weakness in business investment. Market participants are likely to consider both sets of data rather than focusing solely on household spending, as an interest rate hike against the backdrop of shrinking business investment could pose risks to growth prospects.