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 labour‑market weakness after September minutes showed policymakers are more willing to tolerate some softness in activity and employment to drive inflation back to tar

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 labour‑market weakness after September minutes showed policymakers are more willing to tolerate some softness in activity and employment to drive inflation back to target.