CBA is turning desperate. Following Ian Narev comes Michael Blythe:
Australia’s biggest domestic economic risk is a “skewed consumer cycle” and the government may need to step in with a policy on wages, Commonwealth Bank of Australia chief economist Michael Blythe says.
Normal wage growth is around 3.5 per cent per annum, according to the Reserve Bank of Australia, but Mr Blythe noted that wages are now growing at around 2 per cent per annum, “if you’re lucky”.
