Reserve Bank deputy governor Andrew Hauser has dampened expectations the bank could start cutting interest rates aggressively next year, noting a boom in hiring linked to governments is keeping pressure on an already tight jobs market.
RBA governor Michele Bullock has effectively ruled out cutting the cash rate from 4.35 per cent this year, even though other central banks, including the US Federal Reserve, are already doing so.
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Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com