Hauser to Tackle Interest Rate Implications Amid Forecasted Unemployment Rise
RBA Deputy Governor Andrew Hauser is set to hold a 'fireside chat' at the InterContinental Brisbane on Wednesday, where he will discuss the economic outlook and implications for interest rates with Brighter Super Chief Executive Kate Farrar.
The event has been described as a fireside chat by the Queensland Futures Institute. It follows Governor Michele Bullock's press conference last week, which saw no rate hike but left the door open to further increases due to upside risks to inflation.
The RBA is concerned about a too-tight labour market, which is contributing to inflation pressures. However, ANZ Bank economists are forecasting a small increase in unemployment to 4.5% by Thursday's release of job data from the Australian Bureau of Statistics.
Consumer confidence remains pessimistic, with the Westpac-Melbourne Institute Consumer Sentiment Index due on Tuesday showing the impact of the rapidly deteriorating housing downturn and the RBA's second straight rate hold on household finances.