Lower Growth Risk From Interest Rate Rise - CTU
“The 0.25% life in the official cash rate announced today could impact on employment and growth,” said Peter Conway, Council of Trade Unions economist.
“Lower commodity prices feeding through later this year will have a dampening effect on the economy anyway,” he said.
Peter Conway said that there were a number of factors which showed that the economy was not heating up.
“Wage growth is modest, there are over 100,000 unemployed, fewer workers are leaving for Australia and the size of the labour market is growing,” he said.