Ferris Bueller said life moves pretty fast. The latest jobs figures show economic fundamentals can move even faster – with serious repercussions for the Reserve Bank of Australia..Almost 300,000 jobs have been added across the country since December. More than 375,000 full-time jobs have been created over the same period.But the RBA’s latest forecasts had the jobless rate hitting 3.8 per cent around now and only inching down to 3.6 per cent in two years’ time.
They were outdone by a grizzly central bank of Canada, which ratcheted up rates by a full percentage point to 2.5 per cent. Interest rate movements can take up to 24 months to fully work their way through the economy as businesses and consumers adjust to the changed cost of money.That means getting to a place of “normality” as quickly as possible is imperative for any central bank. A cash rate of 1.35 per cent is clearly still a long way from normal.
You are considered employed if you work 1 hour a week, what a joke and scam. More of a scam when RBA thinks it can control inflation given we are still in a pandemic, the Ukraine War and all the world's materials shortage...
The reserve bank have been complicit in their management of the economy. This highlights why having a PRIVATE company managing fiscal policy is not a good idea .. ZERO ACCOUNABILITY!! Resign Phil!! loweneedstogo
More pain, for everyone, except the 1%, they won't notice.
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