RBA Rate Cuts Firmly in Play After Game-Changing Jobs Data
It’s game on for an Aussie interest rate cut – or cuts – in November and/or December.
The latest jobs data are view-changing for the Reserve Bank of Australia, which had been concerned about a hot monthly inflation print in August.
The Reserve Bank may look through a third-quarter bump in inflation if the loosening of the labour market presages a sustained weakening of wage pressures.
This development suggests that the RBA could prioritize the cooling job market over temporary inflation spikes, potentially paving the way for monetary policy easing to support the economy.
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