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- RBA top bankers speak up following this week's disappointing labour market data
RBA top bankers speak up following this week's disappointing labour market data
Following this week's disappointments in the labour market data, traders are timing into Australia's top central bankers on Friday who are crossing the wires currently.
Reserve Bank of Australia (RBA) Governor Philip Lowe said further increases in interest rates would be needed in the months ahead to ensure sky-high inflation returns to the target range.
Speaking before lawmakers, he said how much further interest rates need to increase would depend on developments in the global economy, how household spending evolves and the outlook for inflation and the labour market.
Key comments
We are not done yet on rates.
The labour market is still very tight.
Could see additional 50,000-70,000 jobs come through data in next month or so.
If we saw another weak jobs report might reconsider if labour market still tight.
RBA's Ellis said more people than usual took leave in January and unusually large numbers waiting to start new job.
More to come..
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