After spending years complaining of low wage growth, RBA governor Phil Lowe yesterday warned of the need for wage restraint, arguing that 5% pay rises could see high inflation become entrenched. Lowe instead wants to see real wages continue to fall with wage increases of around 3.5%:
“It’s good to start with a three,” Lowe says…
“I hope I don’t get into an environment where I’m complaining that they … have a five in front of them.
