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Barclays write that "a robust labour......>

- Bonds & Currency News | Market News" >
AUSTRALIA: Barclays write that "a robust labour market is being seen by the RBA
as a key sign that household income growth is likely to pick up in the coming
quarters, which should alleviate some domestic downside risks emanating from a
weaker housing market. The wage report shows that wage growth broadly remains
low, with Q4 growth slightly below the RBA's projection (2.4% y/y). However, we
think wage growth has bottomed and should continue to pick up gradually in
coming quarters, given the ongoing improvement in the labour market. In its
latest Statement on Monetary Policy, the RBA projected a very gradual pick-up in
wages through 2019 and 2020. We see further downside risks to household
consumption if the labour market data tomorrow is also softer than expected."
- Bonds & Currency News | Market News" >
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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