"The Reserve Bank Board's assessment that economic output will have recovered to late 2019 levels by the middle of this year is very encouraging and a stunning turnaround on early expectations," Innes Willox, Chief Executive of the national employer association, Ai Group said today.
"Importantly, the Bank does not believe that recovery in the labour market will be thwarted by wage or price pressures. Its anticipation that interest rates will not rise from current very low levels for a number of years, should provide businesses and households with greater confidence to invest and spend.
"The RBA's statement today reinforces Ai Group's view that the leading priority in the 2021-22 Budget should be on lifting employment and employability by investing in education, training and skills development," Mr Willox said.
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