On 31st of October, Royal Bank of Canada Chief Economist Su-Lin Ong said that strong public demand has been a feature of the Australian economy for many years, with public demand currently accounting for about 28% of GDP, higher than 19% ten years ago. She added that these expenditures have greatly increased government sector employment and exacerbated wage pressures. She said that from May 2025, the Reserve Bank of Australia finally began cutting interest rates, with these domestic fundamentals suggesting a more moderate 50 basis point easing cycle. She added that the changes in the job market next year will largely determine this. Currently, she expects a total interest rate cut of 75 basis points.