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Reserve Bank says unemployment rise was not a shock, inflation on track

By John Hawkins, Head, Canberra School of Government, University of Canberra

Reserve Bank Governor Michele Bullock has fleshed out the central bank’s thinking behind its surprise decision to keep interest rates on hold this month.

In a speech today to the Anika Foundation, Bullock said there has been:

meaningful progress in bringing inflation down.

But the Reserve Bank is waiting for confirmation that underlying…

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