Higher wages will ‘take some time’, says RBA’s Lowe

philip-lowe

The governor of Australia’s central bank says it will “take some time” for a tightening in the labour market to result in nationwide higher wages.

Speaking about demographics and monetary policy today (August 8), Philip Lowe said Australia’s labour market was “gradually tightening”, as shown by a “steady increase” in job vacancies.

“It is also evident in the increase in the number of firms reporting that it is difficult to find workers with the necessary skills,” he said.  

However, while the

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