Earlier:
- Australia lifts minimum wage by 4.75%.
Analysts at Citi said Australia’s minimum wage increase, layered on top of existing cost pressures, reinforced their call for a fourth RBA rate hike in August to 4.60%. The bank flagged upside inflation risks persisting into the second half, with the wage decision adding to business cost burdens already elevated by the Middle East conflict.
This article was written by Eamonn Sheridan at investinglive.com.
