Finally, there are indicators suggesting that wages growth is a bit stronger than we had thought three months ago. In liaison, firms in most industries have reported higher-than-average wages growth (Graph 3). Since the middle of the year, close to half of firms reported realised wage increases of 3–5 per cent, with a further quarter of firms reporting increases above 5 per cent.
I simply note that the Inquiry did not find major problems in the financial system, but did make recommendations about capital, to enhance the resilience of the banking system, and about loss-absorbency more broadly in the context of resolution. These will be mostly in the province of APRA to consider.