Wages data supports a rate cut

 The wages data was released yesterday. It is rising at 3.5%. This is consistent with a 2-3% inflation target.

I tend to agree with most but not all of what Greg Jericho says. 

I am disappointed with the RBA. They appear on the surface to lack any corporate knowledge of the recession we had to have or of what occurs in labour markets.

Inflation is falling, the wage data backs that up. so do business surveys. so does a look inside the CPI.

Unfortunately we have to wait until february for a rate cut.