The Economy

Commonwealth Bank economist John Peters says the spike in unemployment to 6.4 per cent in January 2015 had toned down ...

Wage growth plumbs new record lows

Wage growth has slipped to a new record low, with private sector wages climbing just 1.98 per cent in the year to June, well below the rates of 3 per cent or more recorded from the end of the global financial crisis to 2013.

The RBA said that risks associated with rising household sector leverage and rapid gains in housing prices had diminished.

RBA strategy has been hit and miss

Australia's central bank said inflation would remain low and the economy could grow faster, while house-price concerns had cooled, in explaining its decision to cut interest rates for the second time in four months.

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