Reserve Bank of Australia (RBA) staff have once again rejected a proposed 9.5 percent pay rise, intensifying pressure on governor Michele Bullock to present a more favorable offer. The rejection comes after employees voted down the same three-year enterprise bargaining agreement in July, with 54 percent of staff voting against the proposal in a recent ballot.
The internal email sent by the RBA’s chief people officer Karlee Hughes revealed that the margin of rejection was just 93 votes. This development puts Bullock in a difficult position as she continues to advocate for wage restraint across the broader economy.
The proposed pay rise was part of an effort to address rising cost-of-living pressures, but staff appear to be seeking a more substantial increase. The rejection highlights the growing tension between the RBA’s internal workforce and its leadership, particularly as the central bank plays a key role in managing economic stability.