Bullock Sees Higher Unemployment as Key to Easing Inflation Pressure

Australia's central bank chief Michele Bullock believes that a higher unemployment rate would help ease inflationary pressures by loosening the labor market. During a recent fireside chat in Sydney, Bullock stated that the current jobless rate of 4.5% is 'a bit tight.'

'At the moment, we think that's a bit tight,' Reserve Bank Governor Bullock said. 'I think, you know, between four-and-a-half and five will probably take enough heat out of the labor market that it'll ease pressure on inflation.'