The Reserve Bank is closely monitoring the final data before an important rates meeting, with the trimmed mean inflation rate dropping to 2.9% in April. The Australian Bureau of Statistics is expected to report an unemployment rate of 4.1%, as the rates market anticipates a 25 basis point cut following previous reductions. Economists predict rising unemployment to 4.5%, which may lead to downward pressure on wage growth, despite a recent increase driven by changes in industry agreements.
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