Australia’ jobless rate ticked lower and employment rose, signaling the labor market remains tight and reinforcing the Reserve Bank’s cautious approach to policy easing.
The jobless rate fell to 4.2% in July, from a four-year high of 4.3% the prior month, matching economists’ forecasts, data from the Australian Bureau of Statistics showed Thursday. Employment rose by 24,500 driven entirely by full-time roles.
The currency extended an earlier gain while the yield on policy-sensitive three-year government notes trimmed declines as expectations for a follow-up rate cut in September were scaled back to a 36% chance.
“With the RBA comfortable with ...
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