RBA holds rates but signals further hikes amid inflation concerns

Rising unemployment and job losses disproportionately affecting younger workers; households struggling with mortgage payments and cost-of-living pressures; 21.7% of families unable to raise $2,000 within a week.

In the long arc of monetary history, central banks have often asked ordinary people to absorb the cost of economic correction — and Australia's Reserve Bank is no exception. This week, the RBA held its benchmark rate at 4.35 percent while signaling further increases, even as unemployment climbs, youth joblessness surpasses 11 percent, and nearly a quarter of households cannot summon $2,000 in an emergency. Governor Michele Bullock's candid acknowledgment that unemployment must 'drift' upward to tame inflation lays bare a familiar tension: the tools used to stabilize an economy can themselves d

RBA holds rates but signals further hikes amid inflation concerns

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