John Symond fears fallout from overly tough federal budget

Aussie Home Loans executive chairman John Symond fears an overly tough budget could "knock the wind out of the sails" of consumer confidence.

"We have seen consumer confidence only very slowly improve.

"We don't want a kick in the guts with a budget that is too tough,"

"It could slow the economy down," he told Ross Greenwood on 2GB MoneyNews.

John Symond says he foresees more of the same when it comes to interest rates.

"I am not convinced there was a bias either way," he said on the RBA thinking.

"There are mixed signals in the economy and in the global economy."

"There may be stable rates for months to come," he suggested.

His comments on consumer confidence followed the weekly ANZ-Roy Morgan consumer confidence pulse which was down around 8% over the past two weeks.