ANZ head of Australian economics Adam Boyton said this week’s weak employment
data has weakened the case for a Reserve Bank of Australia rate rise in
November. He still expects a hike next month, but said upcoming Q3 inflation
data will be the more decisive factor to sustain that view. Boyton added the RBA
may be less sensitive to labor‑market weakness after September minutes showed
policymakers are more willing to tolerate some softness in activity and
employment to drive inflation back to target.
