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NAB Morning Call
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Michelle Bullock on the RBA's Goal to See the Labor Market Weaken in Order to Contain Inflation
Michelle Bullock said we need to see unemployment rise to contain inflation. So obviously, she thinks we're well beyond full employment. And wherever you look right around the world, the labor market is still incredibly tight. For central banks to be assured of inflation getting back to target and staying there, they really do need to see some loosening up in those labor markets.
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