Companies faced with skilled labour shortages are not giving wage increases but are instead offering one-off bonuses or more flexible work arrangements, the Reserve Bank of Australia (RBA) said. In the June policy meeting minutes, the RBA said some companies were also choosing to “ration output” rather than pay higher wages to attract new workers. “The reduction in access to foreign labour and reduced interstate mobility were cited by some firms as contributing factors,” the Bank said. The RBA has been holding its official interest rate at a record low of 0.1 percent since November 2020. The board stated that it would not increase the cash rate until actual inflation is sustainably within the 2 to 3 percent target range and wages growth above 3 percent. Members of the board noted that inflation was expected to rise temporarily during the middle of the year due to price pressures from supply …