Reserve Bank of Australia meeting is October 1
- CBA citing the jobs data earlier (link: Australia August Employment)
- 25bp cut in October (CBA previously calling November)
Jobs data a 'smoking gun that will force the RBA's hand
- policymakers desire to see labour market slacj recede
- evidence in data of slack increasing - this trumps the rate of employment growth
- RBA stated 4.5% u/e is needed to boost wage growth to in tunr lift inflation into target band
