Despite increasing speculation, the Reserve Bank (RBA) is continuing its ‘wait and see’ stance, making no change to interest rates this month.
Despite an apparently-strong jobs market and growing inflation – both factors that the bank board has been noting as its markers – Governor Philip Lowe said that wages’ growth – another marker – has failed to rise sustainably, adding that it is ‘only around the relatively low rates prevailing before the pandemic’. So we can continue to expect no change ‘over coming months’, he concluded.
