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Australia's wage price index...>

AUSTRALIA DATA REACT
AUSTRALIA DATA REACT: Australia's wage price index rose less than expected in
the third quarter, raising concerns that wage growth could remain subdued for
longer and keep the Reserve Bank of Australia's monetary policy on hold for an
extended period. Markets now look ahead to Labour Market data tomorrow.
- Barclays analyst Rahul Bajoria says "Wage growth continues to lag employment
trends. Even though full-time employment has been rising strongly through 2017,
wage growth continues to lag behind those gains. This partly reflects low wage
price expectations, and in its recent Statement on Monetary Policy, the Reserve
Bank of Australia flagged the lack of wage growth remains as a puzzle for the
future direction of policy. Indeed, the strength of the employment conditions
was flagged by the RBA as a key source of domestic uncertainty, especially the
assessment of spare capacity, and its subsequent impact on wage inflation."
- While RBA's Debelle painted an upbeat picture of the economy this week, data
has been mixed and consumer confidence data earlier today fell, contrary to
strong NAB Business Conditions data yesterday. Overall economic conditions are
uncertain and we could see an unwind of move lower in IB's yesterday

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