Australia's RBA Eyes Inflation as Labour Market Booms

The Reserve Bank of Australia (RBA) has released data on inflation and the labour market, which will shape its monetary policy outlook. The RBA's main concern is managing inflation, as it remains above target at 5.1%.

The labour market data shows a strong jobs market, with unemployment rate decreasing to 3.4%. However, the participation rate has increased, indicating more people are looking for work.