Baker Tilly Staples Rodway's Tony Maginness warns firms may start tipping over in the next six months.
New seven-day isolation period comes into effect at 11:59pm on Friday. More than half a million people are likely isolating.
Numbers in hospital and ICU both increased sharply compared to the previous day.
ANZ Bank now sees the official cash rate reaching a peak of 3.5% in April 2023, and inflation as high as 7.4%.
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