(Bloomberg) — Australia’s industrial relations umpire raised national minimum wage rates by 4.75%, just shy of the Reserve Bank’s inflation forecast, citing uncertainty over the economy’s trajectory. Sign In or Create an Account The new minimum rate will be A$1,004.90 ($719.90) a week — or A$26.44 an hour — from July 1, Fair Work Commission President Justice Adam Hatcher said in Tuesday’s decision. We apologize, but this video has failed to load.