Earlier today Reserve Bank of Australia Governor Lowe spoke, saying, amongst other things … but this specifically:
- 'labour market is key issue'
Barclays now, on how they are watching the jobs data:
- watching labour mkt data very closely in the next 3 months
- if the unemployment rate starts to rise towards 5.3-5.5%, we think the RBA may consider cutting policy rates by 25-50bp in H219.
- however, our base case remains for the RBA to stay on hold in 2019
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ICYMI, Lowe's comments: