MORE: \u2018Final\u2019: Shock spike sparks new RBA panic<\/a><\/p>\n![\"RBA](\"data:image\/svg+xml,%3Csvg)
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Reserve Bank of Australia\u2019s Governor Michele Bullock is due to announce the next rate decision on August 11. Picture: NewsWire \/ Christian Gilles<\/p>\n
ANZ warned \u201cwhile we expect the cash rate to have peaked at 4.35 per cent, we do not rule out ongoing price pressures to push the RBA into a rate hike in November, assuming the August meeting sees no rate change from the Board\u201d.<\/p>\n
Thursday\u2019s labour force data release is the final jobs figures before the August RBA board meeting, with the last piece of the puzzle to be the June quarter inflation figures next week.<\/p>\n
\u201cWe will also be closely watching Governor Bullock\u2019s speech at the Anika Foundation event for any clues on how the RBA is assessing the recent escalation in Middle East tensions, the rise in global oil prices and the implications for the inflation outlook,\u201d the ANZ statement said. <\/p>\n
The Australian Bureau of Statistics data found employment rose by a strong 76,300, which was well above market expectations of a 15k increase. <\/p>\n
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Unemployment rate held at 4.4 per cent. Picture: Sky News<\/p>\n
ABS said \u201cthis represents a stronger June movement than has been observed in recent years\u201d.<\/p>\n
The participation rate has jumped up from 66.7 per cent in May to 67 per cent in June, the highest level since July last year. The offsetting effects of stronger employment and stronger labour supply left the unemployment rate steady at 4.4 per cent.<\/p>\n
ANZ said the jobs figures were \u201cunlikely to rule out the possibility of a further increase in interest rates if inflation risks remain elevated\u201d.<\/p>\n
\u201cAt this stage, we assess the conditions to be broadly steady, and from the RBA\u2019s perspective, the labour market is unlikely to be a source of concern that would prevent additional policy tightening.\u201d<\/p>\n
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Monthly employment growth. Source: ANZ, ABS<\/p>\n","protected":false},"excerpt":{"rendered":"A second big four bank has now joined Westpac in not ruling out rate hikes this year. Aussie…\n","protected":false},"author":2,"featured_media":819158,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[64,63,99],"class_list":["post-819157","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-au","tag-australia","tag-business"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/819157","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=819157"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/819157\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/819158"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=819157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=819157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=819157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}