All eyes will be on the Reserve Bank of Australia this week to see how it’s factoring in recent strong wages and jobs data, ahead of its next interest rate meeting in December.
At its board meeting earlier this month, the central bank floated the near term possibility of keeping the cash rate steady at 2.85 per cent up to Christmas to allow monetary policy tightenings to date to flow through the economy.
But since then, the Australian Bureau of Statistics has published robust wages and employment figures that suggest the economy is still roaring along and further rate rises may be needed to temper demand….