Low unemployment rate will be learning experience for RBA – Lowe

Philip Lowe
Photo: Crawford Forum/Flickr

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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