The quarterly wage price index, out on Wednesday, looms as one of this year's last game-changing releases.
Running at 3.4 per cent in the year to June, a repeat of that figure - which is both the market consensus and the Reserve Bank's forecast - would represent no change to the already slim prospects of a cut.
Should it tick lower, a rate cut could be back on - most likely in the first half of 2026. If it runs higher, it could signal the bottom has been reached in this cycle of cuts.
"Another rate cut is already down to around a 40 per cent chance on the money market," AMP chief economist Shane Oliver told AAP.
"If you go back a few months ago, there was waxing and waning as to whether it would be one or two cuts.
"So if the wage numbers come in much above 3.4 per cent, that further reduces the prospects for a cut at all."
Wage growth peaked in late 2023, when the annual rate topped four per cent for the first time in 15 years.
It has since moderated to 3.4 per cent, although this figure is still higher than for much of the past decade.
The Reserve Bank last met on Melbourne Cup day, and on Tuesday it will release minutes from that meeting, which are expected to confirm governor Michele Bullock's low enthusiasm for a cut.
Higher-than-expected consumer price index inflation, running at 3.2 per cent in the year to September, inspired central bankers to leave the cash rate target at 3.6 per cent in October.
So while next week is unlikely to bring good news for borrowers, they will at least be able to engage in some political flagellation of their financial masters.
On Tuesday and Wednesday, parliament will haul leaders from the big four in for committee hearings ordered by Treasurer Jim Chalmers.
Committee chair Ed Husic says the chance to quiz the top brass will be valuable.
"A lot of people feel, and have felt in times past, that banks haven't been subject to scrutiny," he said.
"So it's a good platform for important questions to be asked about the way in which the banking system impacts on customers and the way it impacts on employees."
Mr Husic said the committee would examine surcharges, regional services, scams and the impact of AI on customers.
The terms of reference allowed the committee to probe interest rates, with Mr Husic saying those questions would be around how those decisions were reached, rather than arguing for lower rates.
"There have been instances where there's been a difference between the timing of the RBA's decision on interest rates and when that flows through in banks," he said.
US investors are meanwhile eyeing next week's quarterly results from AI computing company Nvidia and worrying whether the Federal Reserve will hold off on cutting interest rates in December.
Wall Street ended mixed on Friday, following an early sell-off that dragged all three major indexes down more than 1 per cent.
The S&P 500 fell 0.05 per cent to end at 6,734.11 points. The Nasdaq gained 0.13 per cent to 22,900.59 points, while the Dow Jones Industrial Average declined 0.65 per cent to 47,147.48 points.
Australian share futures lost 12 points, or 0.13 per cent, to 14,228.
Australia's main indices closed at an almost four-month low on Friday, with the market suffering its worst day in 10 weeks amid a global pullback in risk assets.
The benchmark S&P/ASX200 index dropped 118.9 points, or 1.36 per cent, to 8,634.5, while the broader All Ordinaries fell 127.5 points, or 1.41 per cent, to 8,9087.
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