The Reserve Bank forecasts the unemployment rate will have to reach 4.5 per cent before inflation starts to slow to a manageable 3 per cent. 9News
of Australia governor Philip Lowe will be back before Federal Parliament today to face further questioning over inflation, unemployment and rising interest rates.
Lowe has has flagged that unemployment is set to rise even further in the months ahead. On Wednesday, Lowe appeared before a Senate Estimates committee where he was grilled about the nine consecutive interest rate rises and the impact on mortgage borrowers.
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