29 December 2023,01:44
Weekly Outlook
29 December 2023, 01:44
At its latest interest rate decision, the Reserve Bank upheld its benchmark rate at 4.35%. The RBA’s stance on potential monetary policy tightening hinges on incoming data and evolving risk assessments, highlighting the board’s steadfast commitment to achieving target inflation.
In November, nonfarm payrolls increased by a seasonally adjusted 199,000, surpassing the estimated rate of 180,000. Federal Reserve officials are closely monitoring these job figures as part of their efforts to combat inflation.
The labour market’s strength is evident as the unemployment rate fell to 3.7%, surpassing the projected 3.9%. This decline was backed by a slight rise in labour force participation. If this trend persists, the increase in available labour could eventually help moderate wage inflation.
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