RBA Taps Brakes on Jobs-Focused Policy Amid Inflation Fears

The Reserve Bank of Australia (RBA) appears to be shifting its rates strategy as it prioritizes addressing inflation over protecting employment gains.

This change in approach comes amid rising economic activity, despite three interest rate rises this year, and the impact of tax changes from the government.

Economists say recent data has primed the central bank to focus more on taming rampant price increases by altering its dual mandate.