A majority of economists expect that soaring house prices and improving credit demand could sway the Reserve Bank of Australia (RBA) to resume lifting its official cash rate when its board meets next Tuesday.

In a Dow Jones Newswires survey involving 23 economists conducted yesterday and today revealed that out of them 16 told they expected the central bank to lift its cash rate target to 4 per cent.

The recent data issued on Friday revealed that house prices depicted their largest monthly jump in at least five years in January; however, consumers appeared to be regaining confidence in taking on credit despite last year's interest rate rises.

Those economists hoping a rate hike posted an additional 200,000 positions emerged in the jobs market since August 2009 and a significant fall in the jobless rate to 5.3 per cent along with China's fast growing economy extending signs of placating, would prompt board members to again lift rates.

Pricing on financial markets posit that the rate decision will be a line-ball call as to whether the central bank lifts the cash rate by 25 basis points to 4.0 per cent at its meeting.

"On balance we expect the Reserve Bank to lift rates next week, but we don't hold the view with supreme confidence", Commonwealth Securities (CommSec) Chief Economist Craig James quoted.