Remarks by RBA deputy governor, Guy Debelle
- Expects positive surprises in jobs numbers to continue
- Still thinks recovery is going to be bumpy and uneven
- Spare capacity will keep wage pressures subdued
As much as labour market conditions are holding up, for the RBA, this is arguably one of the more important charts to focus on:
So long as inflation pressures continue to keep more subdued and staying away from their target band of 2-3%, it will be tough to tighten policy in a significant way.
