Unemployment is a national priority, says RBA’s Lowe

Australia banknote

The board of the Reserve Bank of Australia believes the high rate of unemployment in the country should now be a “national priority”, the governor of the central bank says.

According to Philip Lowe’s latest monetary policy statement, the cash rate will not be increased from 0.25% until progress is made towards achieving “full employment”.

The latest data published by the central bank shows unemployment at 7.5% and employment growth contracting 3.2%.

“Both fiscal and monetary support will be

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