Australia – Labor market remained subdued but had stabilized somewhat this year says RBA

Australia’s central bank said the labor market remained subdued but had stabilized somewhat this year, adding it had based its assessment on a range of data given the volatility in the official labor force survey.In minutes of its Oct 7 policy meeting, the Reserve Bank of Australia (RBA) also reiterated that the most prudent course was to maintain a period of stability in interest rates.

“Given the information available, the Board’s judgement was that the current stance of monetary policy continued to be appropriate for fostering sustainable growth in demand and inflation outcomes consistent with the target over the period ahead,” the minutes said.

Chosen excerpts by Job Market Monitor. Read the whole story at RBA: Labor market subdued but has stabilized.