New COVID-19 cases jumped 38 per cent in Australia’s three largest states this week, but experts say high levels of immunity from earlier infections are keeping the nation’s fourth omicron wave in check.
A mixture of new omicron sub-variants, including XBB and BQ.1, as well as existing sub-variants such as BA.4 and BA.5, are driving the latest outbreak.
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Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
