Reserve Bank staff reject 10.5 per cent payrise offer, say it doesn't address cost of living

10.5% over 3 years … 6% inflation .. not even close to good enough

Theyre offering a 10% increase over a period of time when inflation is reasonably expected to be roughly 15%-ish?

That does effectively constitute a pay cut... if you raise my pay by less than inflation, I'm checking job listings. Jumping jobs means a pay raise currently... only reason I don't job hop is because I'm old school, and that ain't enough for me to let inflation reduce my pay.

Given the public statements, it will be difficult for them to offer more and still have any authority. However, a strike or similar would also be a poor look for the rba after multiple interest raises. They would seem more out of touch.