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Reserve Bank of Australia to focus on unemployment rather than inflation – The Guardian
Governor Philip Lowe says the best way to meet the RBA’s inflation target is to help people into jobs
The governor of the reserve bank, Philip Lowe, has confirmed a major shift in Australias monetary policy by stating the central bank would now focus on employment rather than inflation.
The shift means the RBA will be concentrating far more on labour market conditions, including wage growth and under-employment, than on the rise and fall of prices across the economy.
Lowe told the Committee for Economic Development of Australia (Ceda) annual dinner on Monday that the RBA recognised global dynamics…
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