We will continue to monitor bank funding conditions and ensure that the maturing of TLTRO III operations does not hamper the smooth transmission of our monetary policy. We will also regularly assess how targeted lending operations are contributing to our monetary policy stance. As announced, we expect the special conditions applicable under TLTRO III to end in June next year.
This flexibility in labour supply is evident in the substantial rise in labour force participation. The participation rate currently stands at 66 per cent, which is the highest on record (Graph 4). Reflecting this, the share of the working-age population in Australia with a job is currently around the record high it reached at the peak of the resources boom.