RBA governor Michele Bullock warns that 4 per cent wage rises cannot be sustained without higher productivity, as the central bank flags the possibility of another cash rate increase to quash inflation.
Reserve Bank of Australia governor Michele Bullock has warned that 4 per cent wage rises cannot be sustained without higher productivity, as the central bank flags the possibility of another cash rate increase to quash inflation.RBA governor Michele Bullock says inflation remains a crucial challenge.
In her most expansive remarks about wages since becoming governor, Ms Bullock warned that rapidly rising labour costs were posing a challenge to the central bank as it battled to get inflation, currently 5.4 per cent, back to its 2 to 3 per cent inflation target.of 4 per cent in the September quarter, as aged care employees and low-paid workers received large one-off wage rises due to decisions made by the Fair Work Commission. The minutes of the RBA’s November 7 board meeting, released shortly after Ms Bullock’s remarks, noted the central bank’s economic outlook was predicated on one to two more interest rate rises over coming quarters.Having already delivered one of those rate rises this month, the statement implies one further increase in the cash rate to
Reserve Bank Of Australia Wage Rises Productivity Inflation Cash Rate Increase
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