Australians won’t experience real income growth until end of 2024, RBA forecasts

Domestic economy more resilient than previously expected', Reserve Bank says in quarterly statement

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A soft landing for the Australian economy is becoming more certain, leaving the jobless rate not far from five-decade lows, but households won't see a return to real income growth until the second half of next year, the Reserve Bank said in an update of its forecasts.

The domestic economy has proved more resilient than previously expected, and the labour market is expected to ease more gradually as a result," the RBA said in its Statement on Monetary Policy, released on Friday.