Australians’ Confidence Wanes, Wages Gain in Conundrum

Australians’ Confidence Wanes, Wages Gain in Conundrum

Jack Atley/Bloomberg

The Reserve Bank of Australia, which lowered interest rates by 1.25 percentage points from November to June to 3.5 percent and paused at the past two meetings, has indicated wages need to remain contained and productivity improve to ensure inflation stays within its target of 2 percent to 3 percent.