The Reserve Bank of Australia (RBA) released a statement yesterday in response to ‘questions on notice’ from federal MPs. Buried in this statement is the tacit acknowledgement from the RBA that lifting Australia’s superannuation guarantee (‘compulsory superannuation’) from 9.5% currently to 12% would lower wage growth [my emphasis]:
Can the RBA advise what the impact on wages would be from the legislated increase in the compulsory superannuation guarantee?
Further to the previous response, we have not done any work on how the legislated increase in the compulsory superannuation guarantee will affect wages specifically.
