Australia’s rising unemployment: Could we see a rate cut on Melbourne Cup day?

(PHOTO MONTAGE) RBA RATES ANNOUNCEMENT

A photomontage shows the Governor Reserve Bank of Australia (RBA) Michele Bullock, housing construction and $20 notes. (AAP Image) NO ARCHIVING Source: AAP / AAP/AAPIMAGE

In September, Australia’s jobless rate rose from 4.2 per cent to 4.5 per cent, according to ABS data. Labour force figures will be key for the RBA in deciding whether to cut the 3.6 per cent interest rate at its next meeting on 4 November, Melbourne Cup day. Experts suggest the latest unemployment data could lead to another rate cut in 2025. In this podcast, we explore whether another cut is likely.


[Disclaimer: The opinions expressed in this podcast are those of the interviewees, and the information provided is general. Consult an expert for personalised advice.]

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