February 19, 2025 00:39 GMT
MNI BRIEF: Aussie Q4 Wages Grow 0.7% Q/Q
MNI (MELBOURNE) - The Australian Wage Price Index rose 0.7% q/q in Q4, 10 basis points lower than expected and 20bp down on Q3’s result, data from the Australian Bureau of Statistics showed Wednesday.
The measure rose 3.2% y/y, in line with the Reserve Bank of Australia’s most recent forecasts. The private sector rose 0.7%, while the public sector saw a 0.6% increase over the quarter. The result was the lowest quarterly wage growth since March 2022.
The RBA eased the 4.35% cash rate 25 basis points this week, with Governor Michele Bullock highlighting the labour market as a key risk to further easing. (See MNI RBA WATCH: Board Delivers Hawkish 25BP Cut)
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