Australia: Moderation in wage pressures – BBH

Australian wage pressure was more moderate than expected, rising 0.5% in Q3, the same as in Q2 even as economists were looking for a larger increase, explains the research team at BBH.  

Key Quotes

“The Australian dropped half around half a cent on the disappointment.  It was sold through $0.7600 to trade at four-month lows.  The next target is near $0.7530.  Mining, gas, and water employees saw weak wage increases, while the hospitality, food and public workers saw better wage growth.”