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Economics1h 58m ago

AMP economist My Bui warns that two more interest rate hikes are now expected due to the minimum wage increase impacting 2.8 million people whose pay is set by a modern award.

Australia

Who
AMP economist My Bui, Commonwealth Bank economist Harry Ottley, CreditorWatch chief economist Ivan Colhoun
What
AMP economist My Bui warns that two more interest rate hikes are now expected due to the minimum wage increase impacting 2.8 million people whose pay is set by a modern award.
When
Thu, 11 Jun 2026 06:15:17 GMT · 1h 58m ago
Where
Australia ·
Why
The Fair Work Commission announced a 4.75 per cent increase in the minimum award, which is expected to add to already sticky services inflation as businesses pass on higher labour and input costs.
The Frontline Impact

How this affects you

The significant minimum wage increase for approximately 20% of the Australian workforce is predicted to lead to two more interest rate hikes, elevating business costs and potentially impacting economic growth through 2026.

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