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Impact on Next Steps & Currency AUD
The RBA is paying more attention to consumer revenue and spending patterns. Based on the minutes of the latest meeting, the RBA was not pleased with the prospects of the labor market.
RBA members believe the strong growth period did not significantly reduce the labor market as higher participation has absorbed additional demand. The public wage sector also does not help to raise the overall wage.
The RBA also predicts that job growth will slow down until unemployment and inflation decline from the bank's goals.
Governor Lowe stated in his plan in the last RBA minutes that job growth might be slow but lower interest rates would help push through the central bank's unemployment and inflation rates.
If the report shows an increase in Australian employment, the AUD would be stronger against the currencies of its counterpart. And if it does, the AUD will be weak.
The RBA is paying more attention to consumer revenue and spending patterns. Based on the minutes of the latest meeting, the RBA was not pleased with the prospects of the labor market.
RBA members believe the strong growth period did not significantly reduce the labor market as higher participation has absorbed additional demand. The public wage sector also does not help to raise the overall wage.
The RBA also predicts that job growth will slow down until unemployment and inflation decline from the bank's goals.
Governor Lowe stated in his plan in the last RBA minutes that job growth might be slow but lower interest rates would help push through the central bank's unemployment and inflation rates.
If the report shows an increase in Australian employment, the AUD would be stronger against the currencies of its counterpart. And if it does, the AUD will be weak.