SYDNEY: Australians’ living standards are set to drop over the next 12 months, constraining the Reserve Bank of Australia’s (RBA) (pic) tightening cycle when it begins raising interest rates as soon as Tuesday, according to Barrenjoey Markets Pty.
“We’re going to see real wages continue to fall until the middle of next year,” said Jo Masters, chief economist at Barrenjoey, referring to inflation exceeding wages growth.
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