RBA’s Hunter Sees US Tariffs Dragging on Australian Growth, Jobs

Australia’s central bank expects global trade uncertainty will weigh on the domestic economy and employment, according to a senior official, helping explain policymakers’ surprise switch to a dovish stance last month.

“The baseline forecast is for recent global developments to contribute to slower economic growth in Australia and a slightly weaker labor market,” Reserve Bank Assistant Governor Sarah Hunter said in a speech in Brisbane on Tuesday. She added that the RBA expects the price of tradable goods will be “slightly dampened” too.