Data from Australia for wages in the July/August/September quarter will be eyed. The Reserve Bank of Australia had this to say yesterday on wages:
- Important to avoid a price-wage spiral, the board will be watching behaviour closely
- Medium term inflation expectations, wages consistent with inflation returning to 2-3% target
Those summary points are from the November meeting minutes, there is plenty more here:
- RBA November meeting minutes: Not ruling out larger hikes ahead, or a pause
- RBA November meeting minutes - analyst tips peak in the cash rate to be 3.10%
If wages accelerate much beyond expected it raises the chance the RBA will return to rate hikes greater than its recent pivot back to +25bp (October and November hikes were each +25bp).
- This snapshot from the ForexLive economic data calendar, access it here.
- The times in the left-most column are GMT.
- The numbers in the right-most column are the 'prior' (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.
