Australian job advertisements rose 1.8% in June, reaching their highest level in a year, according to data from ANZ and Indeed.
- The increase was led by a 3.2% jump in private-sector vacancies, suggesting the labour market remains robust
- Job ads are now just 0.4% below year-ago levels and remain 16.1% above pre-pandemic norms.
ANZ:
- labour market’s continued tightness supports the view that the RBA’s rate-cutting cycle will be shallow
- further 25 basis point cuts expected in July and August
The RBA is widely expected to lower the cash rate to 3.6% on Tuesday, following cuts earlier in February and May, as inflation pressures ease and growth remains modest. Despite global headwinds, including U.S. tariff risks, Australia’s unemployment rate remains low at 4.1%, though the central bank sees it rising to 4.3% in the months ahead.
Earlier:
The statement from the Reserve Bank of Australia is due on July 8 at 2.30pm Sydney time:
- 0430 GMT
- 1230 US Eastern time
Reserve Bank of Australia Governor Bullock will hold her press confernce an hour later.
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