๐ช๐ฎ๐ด๐ฒ๐ ๐๐ฟ๐ผ๐๐๐ต ๐๐ฎ๐น๐น๐ ๐๐ผ ๐ฏ.๐ฒ%
If youโre hoping the Reserve Bank stops raising interest rates, the latest data on wages will be encouraging news.
Annual wages growth fell from 3.7% in the March quarter to 3.6% in the June quarter, according to the Australian Bureau of Statistics.
The reason the Reserve Bank has been raising interest rates is to cool the economy and reduce inflation (currently 6.0%) to its target range of 2-3%. Wages make a major contribution to inflation, so falling wages growth puts downward pressure on inflation.
The Reserve Bank will certainly discuss this latest wages data, along with other indicators, when it holds its next interest rate meeting, on September 5.
Subiaco finance brokers are here to help
Interest rate rises are here, but you donโt have to fear with the right broker on your side.
The team at Sonam Capital are here to empower you through financial knowledge. Weโll take the time to get to know you and your unique situation and speak in a language you can understand, with strategies you can implement for the best possible outcomes.
Nick, Wayne and Amanda at Sonam Capital are your Subiaco finance specialists.
