Reserve Bank of Australia: Expected unemployment rate of 4.2% by 2026

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CoinWorld News: The Reserve Bank of Australia has recently issued the following views: The unemployment rate is expected to be 4.2% in the second quarter of 2026, 4.4% in the second quarter of 2027, and 4.7% in the second quarter of 2028. At present, there is no clear evidence that the domestic economy and consumer demand will change significantly due to the conflict. Over the next two years, the economic growth outlook is below the potential level. Inflation forecasts have been raised, while GDP and employment prospects have been lowered. The forecast for adjusted mean inflation is 3.8% for the second quarter of 2026, 3.5% for the fourth quarter, 3.1% for the second quarter of 2027, and 2.5% for the second quarter of 2028. Eight members voted to raise the cash rate target by 25 basis points to 4.35%, while one member voted to keep the cash rate target unchanged at 4.10%. With the cash rate having been raised three times already, monetary policy can effectively respond to developments. The labor market is still seen as slightly tight.

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