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Likely Interest Rate Cut Ahead for Australia Amid Rising Unemployment
Rising Unemployment Signals Possible Policy Shift
The Australian economy appears poised for a significant policy shift as expectations grow that the Reserve Bank of Australia (RBA) will lower interest rates during its upcoming meeting. The catalyst for this potential move is the recent increase in the country's unemployment rate, which climbed from 4.1% to 4.3% in June—the highest since November 2021. This marks the fourth consecutive month that employment figures have worsened, raising concerns about the economic outlook and prompting calls for monetary easing.