Wage data supports RBA over those eager for hikes

Long wait: A man passes the entrance to the Reserve Bank of Australia building in Sydney. It argues that it will take about two more years of ultra-low rates to tighten the job market enough to drive decent pay gains. ― Bloomberg

SYDNEY: Wages data backed Reserve Bank of Australia (RBA) governor Philip Lowe’s dovish price views as markets continue to bet he will be forced to raise interest rates in as little as six months.

Lowe said wages need to rise 3% or more to return inflation to target as annual pay gains matched estimates at just 2.2% last quarter.