Analysts at UOB Group explained that the Reserve Bank of Australia’s (RBA) Assistant Governor Luci Ellis said in a speech on Monday (12 Feb) that she was a bit more confident about pick up in wages, inflation.
"She warned that Australia’s progress, however, is expected to be gradual and to lag other advanced economies. There is a risk that unemployment could fall further before stoking wages.
She also noted that household income growth has been particularly weak in Australia and that households could curb spending if weak income growth becomes seen as permanent. Weak income growth is especially risky given high debt levels."
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