MNI 5 THINGS: Australian Wage Price.......>

AUSTRALIA: MNI 5 THINGS: Australian Wage Price Index 2.3% Y/Y, As F'cast

- Australia's Wage Price Index grew in line with expectations in the third

quarter, gaining 0.6% q/q and rising 2.3% y/y, data released Wednesday by the

Australian Bureau of Statistics showed.

- The RBA is watching wages growth as an inflation driver in considering

changing its current dovish policy on interest rates, currently at a record low

1.5%. Today's data shows some momentum is building for higher wages and this can

be expected to flow through to inflation in early 2019. Year-on-year wages

growth has increased from 1.9 % in early 2018, moving through the 2% level in

the first quarter of the year to reach today's two year high. The September

quarter inflation figure was a sluggish 1.9 %, although the RBA had telegraphed

a lower figure due to changes in childcare funding. The bank has been focussed

on wages growth and today's data is confirmation that the economy is moving as

forecast.

- For full story see MNI Main Wire At 04:05 GMT 11/14, or contact us for full

access.