The boss of the Commonwealth Bank says he’s “very optimistic” about Australia’s economic growth over the next couple of years.

Commonwealth Bank CEO Matt Comyn says the nation’s current economic state is “remarkable given the two years we’ve been through”.

He expects consumer and business confidence to bounce back quickly as Omicron subsides.

“Over the course of the year, provided we see a continuation of what we’re seeing at the moment — some stabilisation of the Omicron variant globally — we think consumer confidence will pick up over the course of the year, as will business confidence,” he told Ross and Russel.

Mr Comyn predicts a cash rate increase later this year, but says it’ll increase “quite slowly”.

Press PLAY below to hear more about the state of Australia’s economy