Australia’s 10-year government bond yield rose to 4.47%, hovering near a six-month high, as investors assessed comments from RBA Assistant Governor Sarah Hunter. Hunter emphasized that policymakers would “not be jumping at one month of data” as they consider whether the current 3.6% cash rate is restrictive enough to bring inflation back to the central bank’s 2–3% target range. She added that the labour market remains too tight for inflation to settle within target, even as officials actively investigate how close the economy is to full employment. Data released on Wednesday showed that annual wage growth held steady at 3.4% in the third quarter, matching expectations and underscoring ongoing strength in the labour market. Still, markets assign a 56% chance of one final rate cut from the RBA by May next year.
