Low unemployment rate will be learning experience for RBA – Lowe
Central bank maintains it will not raise rates until 2024, unless forecasts turn out “very differently”
Australia’s central bank has had “little historic experience” of how the labour market would operate with a low unemployment rate, the country’s central bank governor said this week.
On November 16, Reserve Bank of Australia (RBA) governor Philip Lowe said unemployment was expected to reach 4% by the end of 2023, as the economy recovered following lengthy local lockdowns.
“We have little historical experience as to how the Australian labour market works at an unemployment rate of 4%,” he said
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