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The Reserve Bank of Australia’s (RBA) latest Statement of Monetary Policy (SoMP), released on Friday, contains five explicit references to unit labour costs, which it claims are “rising at a fast pace”.
Below are these refences by the RBA:
“Unit labour costs are rising at a fast pace, with productivity growth remaining subdued”…
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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