Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Australia’s Wage Price Index rose 0.8% in the March quarter, 10 basis points lower than expected, and 4.1% y/y, according to seasonally adjusted data released Wednesday by the Australian Bureau of Statistics (ABS).
The Reserve Bank of Australia had expected the WPI to reach 4.2% y/y by the June quarter.
Annual wage growth in the private sector was 4.1%, which followed a 4.2% outcome in the December 2023 quarter and higher than the 3.8% growth recorded this time last year, the ABS said, noting this is the first time that private sector annual wage growth has fallen since September quarter 2020.
MNI reported this week any further shocks to employment or wage growth could prompt the RBA to raise rates further. (See MNI INTERVIEW: Chance RBA Hikes Again - Ex Senior Official)
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.