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Employment plummets but jobless rate falls to 4.5pc

Distortions in jobs data caused by lockdowns and government support mean there’s nothing to celebrate in the latest 4.5 per cent jobless figure. ....

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CBA economists predict Australia's interest rates to hike up in November 2022

CBA economists predict Australia's interest rates to hike up in November 2022
9news.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from 9news.com.au Daily Mail and Mail on Sunday newspapers.

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Reserve Bank of Australia Holds Cash Rate Amid Red Hot Housing Market

Reserve Bank of Australia Holds Cash Rate Amid Red Hot Housing Market
The Reserve Bank of Australia (RBA) has said it would continue to “carefully” monitor trends in housing borrowing after announcing it will hold the cash rate at the current record low 0.1 percent.
Following the bank’s monthly meeting, RBA Governor Philip Lowe noted Australia’s economic recovery was much stronger than initially expected.
However, despite the housing market experiencing the fastest price growth in 32 years, Lowe reiterated that the bank would not raise interest rates until sustainable inflation reached 2 to 3 percent.
“Housing markets have strengthened further, with prices rising in most markets,” Lowe said. “Housing credit growth to owner-occupiers has picked up, with strong demand from first-home buyers.” ....

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