Labour data suggests RBA won’t move yet on cuts

Australia's Reserve Bank watches labour market figures carefully. (Image: RBA)

Fri, 16 Aug 2024

Australia’s latest jobs data suggests the country’s labour market remains tight, supporting wage growth and the UOB Global Economics & Markets Research team’s view that the Reserve Bank of Australia (RBA) will trail global peers in cutting interest rates. The economy added more jobs than expected in July, with unemployment at its highest since November 2021 and annual pay growth reflecting persistent inflation, economist Lee Sue Ann says in a note. Labour market figures are closely watched by the RBA as it mulls...

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