Anthony Albanese is hoping for interest rate cuts before the 2025 election. But a strong jobs market makes a rate cut decision tougher for the RBA.
Anthony Albanese’s hopes of an election campaign buoyed by back-to-back interest rate cuts from the Reserve Bank are under threat after jobs figures revealed a fall in unemployment and ongoing demand for full-time workers.
The numbers complicate the Reserve Bank’s decision when it returns in February next year. The bank’s forecasts in November showed it expected unemployment to reach 4.3 per cent by December – a virtually impossible result following the latest print. “Today’s new jobs numbers show unemployment is falling while wages are rising, inflation is moderating, and our policies are helping achieve a soft landing in our economy,” he said.Betashares chief economist David Bassanese said the “blockbuster” unemployment figure could push back the possibility of a rate cut in February.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Prime Minister Albanese Pushes Through Legislation in Preparation for 2025With the 2025 federal election in mind, Prime Minister Anthony Albanese concluded 2024 by swiftly passing a significant amount of legislation through the Senate, after overcoming initial resistance from recalcitrant members.
Read more »
Federal politics live: Anthony Albanese's pitch to world leaders amid fears of Trump trade warAnthony Albanese has met with world leaders on the sidelines of the APEC summit, pitching Australia as 'reliable' trading partner. Follow live.
Read more »
Federal politics live: Anthony Albanese lands in Peru ahead of Asia-Pacific Economic Cooperation forumThe prime minister will join world leaders in Peru, where Donald Trump's return to the White House is expected to be a factor in the two-day talks. Follow live.
Read more »
Instead of banning young people from social media Anthony Albanese needs to listen to themLabor wants a duty of care bill on tech platforms, yet dismissed young people’s push for a duty of care bill on the climate crisis
Read more »
China-Australia relations in focus during G20 meeting between Anthony Albanese and Xi JinpingThe Chinese president has spoken of the 'twists and turns' in recent relations with Australia during talks with Anthony Albanese on the sidelines of the G20 summit.
Read more »
Federal politics live: Anthony Albanese to meet with Xi Jinping on the sidelines of G20 summitAnthony Albanese will meet China's Xi Jinping later this evening on the sidelines of the G20 summit. Follow live.
Read more »