Australian Economists and RBA Remain Divided on First Cash Rate Hike

Office employees walk in front of the Reserve Bank of Australia in Sydney on Sept. 4, 2018. Saeed Khan/AFP/Getty Images

Both economists and the Reserve Bank of Australia (RBA) are maintaining their positions on their respective forecasts for the economy after a strong recovery post-Delta.

In its quarterly Statement on Monetary Policy (SOMP), the RBA said the economy bounced back strongly after Delta lockdowns and the effect of Omicron on spending has been “relatively small.”