RBA's Bullock Says 4.5% Jobless Rate Must Rise Toward 5% to Cool Inflation
Updated
Updated · Bloomberg · Sep 22
RBA's Bullock Says 4.5% Jobless Rate Must Rise Toward 5% to Cool Inflation
3 articles · Updated · Bloomberg · Sep 22
Summary
Michele Bullock said Australia’s 4.5% unemployment rate is still too tight and likely needs to move closer to 5% to take heat out of the labor market.
At a Sydney fireside chat on Tuesday, the RBA governor said that shift would ease wage and price pressures, directly linking a looser jobs market to lower inflation.
Bullock did not say whether she will back an interest-rate increase next week, leaving markets without fresh guidance on the RBA’s immediate policy decision.