Goldman Sachs: Q4 improvement in full-time employment will alleviate RBA concern
|Economist at Goldman Sachs provides a brief insight on the future policy course of the RBA, particularly in light of today’s Aus jobs report.
Key Headlines via Bloomberg:
Evidence increasing that Australia is at a positive transition point for nominal growth, inflation and wages
Unemployment rate has been unchanged over 9 consecutive months (trend basis). Today's rise partly reflects a rebound in participation rate
Q4 improvement in full-time employment will alleviate RBA concern
If downside tail risks continue to subside and broader momentum improve as expected, RBA's next policy move will be 25bp hike in 1Q 2018
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