RBA desperately seeking wage growth

The New Daily’s Matthew Elmas posted a terrific article summarising the difficulties RBA Governor Phil Lowe faces in trying to accelerate Australian wage growth above 3%:

Reserve Bank governor Philip Lowe had just finished delivering a broad speech on the Australian economy in rural New South Wales when the topic of what economic success looks like in Australia came up.

“Let me describe my central bank nirvana to you,” Dr Lowe began.

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