Australia not seeing much upward pressure on wages, prices: RBA

[SYDNEY] Australia was not seeing the sort of upward pressure on wages and prices that were prompting some other countries to scale back policy stimulus, a central banker said on Thursday.

Reserve Bank of Australia (RBA) Deputy Governor Guy Debelle said the economic circumstances in Australia were very different from countries such as the United States, where markets were pricing in tighter policies ahead.

He noted few workers in Australia were getting pay rises above 2 per cent and there had as yet been little sign that global supply disruptions were pushing up retail inflation.

REUTERS