Reported about 10 hours ago
Former Australian central bank Governor Philip Lowe has recommended that the Reserve Bank of Australia pause its policy actions to better assess the nation's ongoing high unit labor costs. Highlighting that labor costs have been persistently close to 5%, Lowe stressed the need for productivity growth to lower these expenses and suggested that maintaining current monetary policy may be prudent while the situation stabilizes. He also expressed optimism about the long-term prospects of China's economy, despite current challenges.
Source: YAHOO