Providing some relief to heavily indebted homeowners, the market has in effect ruled out a change before November. Up to 80 per cent of forecasters surveyed by Bloomberg now believe the next rate rise will not be until February next year. Wage growth inched up only slightly to 2.1 per cent in the three months to December, although the RBA now appears more confident that it has begun to climb out of the doldrums. "The low level of interest rates is continuing to support the Australian economy. "Further progress in reducing unemployment and having inflation return to target is expected, although this progress is likely to be gradual."