Australia’s December quarter Wage Price Index (WPI) will be released later today. Given the implications for household spending, broader economic growth, labour market conditions and the outlook for inflation and official interest rates, the WPI is now arguably the most important data release in Australia, especially at time when financial markets are fully priced for the RBA to cut Australia’s cash rate by the middle of next year. Put bluntly, the trajectory of wages will go a long way to determining how the Australian economy will perform in the period ahead. After falling to the lowest levels on record in 2016 the ... (full story)