ANZ have upgraded their unemployment forecast for Australia:

  • expect Australia's unemployment rate to fall to 4.8% by end-2021
  • to 4.4% by end-2022

And

  • Lower again in 2023 seems likely

The implication for the Reserve Bank of Australia is:

  • This upgrade potentially challenges the RBA's expectation a rate hike is "unlikely to be until 2024 at the earliest"
ANZ have upgraded their unemployment forecast for Australia: