Hauser Fireside Chat Set Amidst Rising Inflation Concerns

Reserve Bank deputy governor Andrew Hauser is set to give a 'fireside chat' at InterContinental Brisbane, discussing the economic outlook and implications for interest rates on Wednesday.

The event follows last week's rate meeting, where governor Michele Bullock warned that upside risks to inflation still have the central bank on edge. The main risk being a too tight labour market, with Australia's historically low unemployment rate of 4.4% contributing to inflation pressures.

On Thursday, the Australian Bureau of Statistics will release jobs data for July, which is expected to show an increase of around 10,000 in employment and a jobless rate that holds steady at 4.4%. However, ANZ economists forecast a rise in the unemployment rate to 4.5% by year's end.

AMP chief economist Shane Oliver expects wages growth to be unchanged at 0.8% for the June quarter, causing the annual growth rate to slow to 3.2%. The RBA is banking on a larger spike in the September quarter following the recent pay rise handed out by the Fair Work Commission.