Wage growth remains a concern for Australia – Lowe
Governor warns low wage growth is hindering household consumption
The governor of the Reserve Bank of Australia has said slow growth in real wages is “restraining growth” in household consumption.
In his statement – published with the central bank’s monetary policy decision to leave interest rates at 1.5% – Philip Lowe said labour market data indicators “remain mixed”.
On the one hand, Australia is currently benefiting from stronger employment growth, with forecasts showing this trend is likely to continue, Lowe says: “Inflation is expected to increase
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