SYDNEY, Feb 22 (Reuters) - Australian wages grew at the
fastest annual pace in a decade last quarter but that was still
short of market forecasts and could lessen the pressure for
further aggressive hikes in interest rates, sending the local
dollar lower.
Figures from the Australian Bureau of Statistics out on
Wednesday showed its wage price index rose 0.8% in the December
quarter from the previous quarter, under forecasts of a 1.0%
increase.
Annual pay growth picked up to 3.3%, from a revised 3.2%,
but again was under forecasts of 3.5% and a likely relief for
policy makers who fear high inflation could lead to a damaging
price-wage spiral.
(Reporting by Wayne Cole; Editing by Himani Sarkar)
Messaging: wayne.cole.thomsonreuters.com@reuters.net))
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.