Australia’s April jobs report will be released on Thursday. Given the Reserve Bank of Australia (RBA) believes that only a further improvement in labour market conditions will likely be enough to bring underlying inflation back to the bottom of its 2-3% target range, this report is now the most important data release in Australia when it comes the outlook for official interest rate settings, superseding readings on inflation and economic growth. With financial markets fully priced for the RBA to slash Australia’s cash rate to 1% by early next year, down from 1.5% at present, only a bumper jobs report will be enough ... (full story)