SYDNEY: Australia's central bank took a decidedly dovish turn on wage growth and inflation on Friday, forecasting the figures to stay lukewarm over the next two years and citing them as a major reason it was prepared to further ease monetary policy.
In its 81 page quarterly policy statement, the Reserve Bank of Australia (RBA) said wage growth was "no longer expected to pick up". It forecast subdued wage growth of 2.3% through the end of calendar 2021.
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