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Consumers have regained some confidence in the economy as rising interest rates do little to rein in spending.

The 2.1 per cent boost in sentiment was driven by an uplift in confidence in Australia's economic conditions.

'Current economic conditions' jumped 4.8 per cent, according to ANZ-Roy Morgan's weekly consumer confidence survey, and and 'future economic conditions' lifted six per cent.

The final score of 87.8 was the highest in four months but was still well below the long-term monthly average of 111.9.

ANZ economist Catherine Birch said strong spending in the face of successive rate hikes has quelled fears of a sharp downturn.

A fall in inflation expectations also buoyed the indicator, despite motorists bracing for a surge in fuel prices in the coming weeks when the fuel excise tax is reinstated.

Consumers may be slightly more upbeat but Australia's economic troubles are far from over, with the Organisation for Economic Co-operation and Development downgrading Australia's economic position.

The OECD is now projecting real GDP to grow by 4.1 per cent in 2022, down 0.1 percentage points from its June forecasts, and two per cent in 2023, which is 0.5 per cent lower than predictions made mid-year.

Core inflation in Australia is also expected to hit 5.4 per cent in 2022 before falling to 4.3 per cent in 2023.

The OECD's economic outlook report showed inflation spreading widely across many economies since Russia's invasion of Ukraine.

"The effects of the war and the continuing impacts of COVID-19 outbreaks in some parts of the world have dented growth and put additional upward pressure on prices, above all for energy and food," the report said.

The gloomy forecasts set the stage for Treasurer Jim Chalmers's first budget in October.

Dr Chalmers has welcomed a national conversation about how the government manages its funds to ensure it can pay for government services.

So far, the only tax reform the government has committed to is making sure multinational corporations pay a fairer share of tax.

However, shadow treasurer Angus Taylor is concerned the Labor government will revive higher taxation policies to allow them to boost spending.

"Their support for the stage three tax cuts is half-hearted, and it remains to be seen whether they will see them through," Mr Taylor told a business forum in Sydney on Tuesday.

He said higher taxes would stifle business innovation .

"Lower taxes encourage people to have a crack, to innovate, to build businesses and to build careers," he said at the Centre for Independent Studies event.

Mr Taylor's comments follow a Productivity Commission report showing stagnant innovation across Australian businesses and government, and that Australian firms are falling behind global leaders.

Dr Chalmers said the coalition government delivered the worst decade for productivity growth in half a century.

"The report shows that while the ball got dropped in the past, there are significant opportunities to boost productivity, including through greater collaboration," Dr Chalmers said.

Mr Taylor also said the budget was in a better position than expected.

"We handed over an economy and a budget in far better shape than most could have imagined."

The federal budget recorded an unexpected $50 billion improvement in its bottom line last financial year, in part due to high commodity prices.

The final budget outcome document will be released on Wednesday.

© AAP 2022

One of the few investors to receive their money back from fraudster Melissa Caddick is due to give evidence at her inquest.

Dominique Ogilvie in August 2020 was waiting for a dental appointment when she had a chance encounter with Jennifer Porter, whose Australian Financial Services Licence Ms Caddick was illegally using as her own.

Ms Porter later showed Ms Ogilvie documentation that proved this and encouraged her to contact Ms Caddick and request her money back.

Ms Ogilvie made up a story that she wanted to purchase property and insisted Ms Caddick transfer back her millions.

Isabella Allen from the Australian Securities and Investments Commission confirmed Ms Ogilvie's original investment of $2.5 million, plus the purported profits of $380,000, were subsequently returned to her.

ASIC commenced its formal investigation into Ms Caddick and conducted a telephone interview with Ms Ogilvie on September 14.

"We said if (Ms Ogilvie) were to run into Ms Caddick or have subsequent phone calls or speak to her, she could speak to her freely but keep the contents of our conversation confidential," Ms Allen told the NSW Coroners Court on Monday.

Data obtained from Ms Caddick's mobile phone indicated her searching for shredding services that evening, and a day later booked the services of Shred-X.

But Ms Allen does not believe this was the result of Ms Caddick being "tipped off by anyone", after looking into some of the evidence that was destroyed.

Ms Caddick pretended she was investing her victims' wealth by appearing to set up CommSec trading accounts and forging documents to claim she was generating profits.

She preyed on mostly friends and family, and stole up to $30 million between 2013 and 2020, counsel assisting Jason Downing SC has told the inquest.

Her husband Anthony Koletti reported the 49-year-old as missing some 30 hours after he says she walked out of their home for the last time on November 12 about 5.30am to go for a walk.

His stories to police about the last time he saw his wife have been inconsistent and subject to intense scrutiny during the inquest. He is due to give evidence following Ms Ogilvie.

In February 2021 Ms Caddick's decomposing foot encased in an Asics shoe washed ashore at Bournda Beach on the NSW south coast, about 400km south of Sydney.

© AAP 2022

One of Melissa Caddick's investors has told her inquest she became so alarmed by something fishy she had been told, that she wanted her money back immediately.

Dominique Ogilvie had a chance encounter with someone in the waiting room of a dental specialist in Sydney in August 2020, when they struck up a chat about financial advisers.

Ms Ogilvie told the NSW Coroners Court on Tuesday the woman asked if she was using Melissa Caddick's services.

"And I said yes ... she said 'I need to speak with you'.

"'I said 'oh'. And then I was called into the endodontist."

The pair exchanged phone numbers and Ms Ogilvie - extremely alarmed by her tone - sent a message: "Dying to talk to you."

By that stage Ms Ogilvie had invested $2.5 million with Ms Caddick's fake company Maliver.

Later that day the woman revealed Ms Caddick was using her Australian Financial Services Number illegally.

Ms Ogilvie had met the conwoman while holidaying in Aspen Colorado staying in an apartment Ms Caddick claimed to own.

In April she invested $450,000 and the documentation she received purported "good" profit, she said.

Later that month she injected an additional $550,000, followed by $1 million.

"Big birthday present just gone into your account," she texted Ms Caddick, telling the inquest she was being a "bit smart, sarcastic".

She continued to invest before the fateful conversation raised the alarm bells, and as she later told ASIC made her think "something smells here, I need to get my money out".

Ms Ogilvie is one of the few to recoup her money plus an additional purported profit of $380,000.

On September 14 she was formally interviewed by the Australian Securities Investment Commission, but still wasn't quite sure of the size of the fraud, she said.

She denied ever having told Ms Caddick about the ASIC investigation into her.

After she received her investment back she said she cut off communication with her former friend.

'I wasn't able to speak with her after that. I felt uncomfortable. Cleaner and easier for me not to have any contact," she said.

Ms Caddick pretended she was investing her victims' wealth by appearing to set up CommSec trading accounts and forging documents to claim she was generating profits.

She preyed on mostly friends and family, and stole up to $30 million between 2013 and 2020, counsel assisting Jason Downing SC has told the inquest.

Her husband Anthony Koletti reported the 49-year-old as missing some 30 hours after he says she walked out of their home for the last time on November 12 about 5.30am to go for a walk.

His stories to police about the last time he saw his wife have been inconsistent and subject to intense scrutiny during the inquest.

In February 2021 Ms Caddick's decomposing foot encased in an Asics shoe washed ashore at Bournda Beach on the NSW south coast, about 400km south of Sydney.

© AAP 2022