Australian 10-year bond yield hits over 2-week high after RBA May minutes hint next move to be hike
Take these annual growth rates to two decimal places and we find that wages eased to 2.07% in the March 2018 quarter from 2.08% in the December 2017 quarter and 2.09% in the September quarter.
Seasonally adjusted, private sector wages rose 1.9 per cent and public sector wages grew 2.3 per cent through the year to March quarter 2018.
The local dollar slipped 0.4 per cent to US$0.7447 as the data cemented views that the Reserve Bank of Australia (RBA) will hold rates at a record low 1.50 per cent for a prolonged period as it awaits a revival in consumer prices.
Wednesday's figures from the Australian Bureau of Statistics showed the wage price index rose 0.5 per cent in the three-months ended March, from the previous quarter, lagging expectations for a 0.6 per cent increase.
A softer than expected result in June would mean both Labor and Coalition governments have missed the forecasts for the present quarter for four of the past six budgets.
They are seen as crucial to delivering the tax revenues needed to return the budget to surplus.
Rihanna launches her own line of lingerie called Savage x Fenty
On the SavageX website bigger women can see themselves as the model figure to promote the line, something not seen too often. Rihanna's Savage X Fenty lingerie collection is here, and we've already picked out our favorites.
Coca-Cola European Partners plc (NYSE:CCE) Continuing to Trade Below Moving Averages
Looking at some alternate time periods, the 12 month price index is 0.99794, the 24 month is 0.99361, and the 36 month is 1.13033. Currently, the stock carries a price to earnings ratio of 0, a price to book ratio of 2.16, and a price to sales ratio of 0.41.
Classic NES and SNES: mini consoles stocked until year end
The $60 Classic Edition may look like the original Nintendo system, but it's much smaller and can actually fit in a person's hand. Nintendo eventually discontinued the hard-to-find NES Classic in April 2017.
Lacklustre wages growth would continue to dampen household spending that's already saddled with record high levels of debt. The RBA remained optimistic on the labour market, said wages expected to pick up gradually as leading indicators pointed to more job gains.
"In Australia, 2 per cent seems to have become the focal point for wage outcomes, compared with 3 to 4 per cent in the past", he said.
Consensus is, the RBA will keep interest rates near historic lows until 2019, or later.
Latest numbers from the ABS reveals Australian wages jumped 0.5% [seasonally adjusted] in Q1, notching a 2.1% year-on-year increase.
"The experience of other countries with labour markets closer to full capacity than Australia's, is that wages growth may remain lower than historical experience would suggest".
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