The RBA's Focus on Inflation

The RBA's role is very focused on the inflation target, trying to get inflation back to within the two to three percent band. They do also have a focus on full employment, but full employment doesn't mean every single person in a job. Michelle Bullock talked about how unemployment was expected to rise to 4.5 percent by late 2024. She said that this is closer to a sustainable balance point. And of course that sort of suggested that it sounded like they were happy for unemployment to increase.