The Q1 wages data is here: Australia - Wage Price Index (Q1): +0.5% q/q (expected +0.5%)
Reuters have a bit of a recap up:
- Australian wages are rising at their slowest pace on record
- At a time when household debt has climbed to an all-time peak
- The central bank is worried about surging household debt alongside skyrocketing property prices at a time when income growth has slowed
- Households burdened by heavy mortgage debt have a reduced appetite for consumption, making the transmission of monetary policy weaker, RBA Governor Philip Lowe said earlier this month.
Not too bad a summary of the RBA concern over slow wage growth.
