Westpac Bank released its consumer confidence index for Australia on late Tuesday evening. The index fell 4.0% in April, after a 2.2% decline in March.

The index was driven by declines in four of the five sub-indexes.

"It appears that international and market developments continue to create unease for respondents although the signals are mixed," Westpac Chief Economist Bill Evans said.

"The Reserve Bank Board next meets on May 3. Despite this disappointing read on sentiment we expect the Board will keep rates on hold for another month. We retain our call that rates will remain on hold for the remainder of 2016," he added.