Westpac believe that the "RBA is likely.........>

RBA: Westpac believe that the "RBA is likely uneasy about the latest labour

market data. Official figures continue to show a loss of momentum in jobs growth

with utilisation flattening at levels indicating significant slack. Private

business surveys suggest hiring should hold up but the latest Westpac Consumer

Sentiment survey showed a notable weakening in unemployment expectations. On

wages, growth may have troughed but evidence of a meaningful lift remains scant.

Certainly, a return to 3% wage growth looks a long way off. We continue to

expect policy to be unchanged in 2018 and 2019 and suspect the Governor's

resolve will be sorely tested by a return to sub-par growth against a backdrop

of little or no progress towards its labour market, wage and inflation goals."