AUD: Wage price index surged 0.4%/qtr - TDS

Research Team at TDS, notes that the Australia’s Q1 Wage Price Index rose +0.4%/qtr, below the +0.5% forecast by the market, taking annual wage growth to a record low of 2.1%.

Key Quotes

“This release does not normally garner much interest, but given the RBA has flagged low wage growth and changes in labour market dynamics as driving inflation lower, it has taken on more importance now. The Australian jobs report tomorrow will shed further light on the job market. TD at +20k, mkt at +12k.”