Australians are worried about a spate of coronavirus lockdowns across the country, but at least borrowers can draw comfort from the fact they won't be slammed with higher interest rates any time soon.
The Reserve Bank of Australia left the cash rate unchanged at a record low of 0.1 per cent at Tuesday's monthly board meeting, predicting it won't have to lift interest rates before 2024.
There has been speculation among economists a rate hike could be brought forward to 2023 or even earlier given the strength of the economy.
However, RBA governor Philip Lowe said despite the strong recovery in jobs and reports of labour shortages, inflation and wage outcomes remain subdued.
Still, retailers may face some difficult times in the short term with confidence among shoppers dropping to the lowest level since April in the face of the recent lockdowns in various parts of the country.
The weekly ANZ-Roy Morgan consumer confidence - a pointer to future household spending - dropped 3.9 per cent.
Confidence in Sydney, which remains in lockdown, slumped 8.9 per cent, while there were also also declines in most other cities, including areas not directly affected by restrictions.
"With the lockdowns in Brisbane and Perth coming to an end, we can expect confidence, and consumer spending, to rebound reasonably quickly given past experience," ANZ head of Australian economics David Plank said.
"But much will depend on whether restrictions in Sydney are able to be eased."
A separate survey found Australians were not overly confident about the economic outlook, with less than one in five thinking the nation would rebound to be stronger than before COVID-19.
The Essential poll found around two in five thought the economy would be impacted for at least six to 12 months and stagnate thereafter.
A quarter thought the COVID-19 impact would be long lasting, resulting in a lengthy recession.
However, other figures showed employment conditions partially recovered after Victoria lifted its latest lockdown, prior to the multiple state restrictions.
Payroll jobs data from the Australian Bureau of Statistics showed a rise of 0.3 per cent in the fortnight to June 19, following a 0.8 per cent decline in the previous two weeks.
Payroll jobs rose 0.4 per cent in Victoria as restrictions eased, having dropped 2.1 per cent during lockdown.
"Lockdowns in other cities, especially the ongoing Greater Sydney lockdown which is scheduled to end on Friday, will likely weigh on payrolls in the short term," National Australia Bank economist Taylor Nugent said.
"But Victoria's experience suggests any impact will be short-lived."