If turbocharged petrol prices are driving up inflation, then why are Australia’s unemployed on the line? | Greg Jericho

Avoiding a rise in unemployment is important for the RBA – but apparently not a dealbreaker And here we are again. Hello darkness my old friend. Interest rates up again and talk of a recession if needed. The Reserve Bank’s enacting legislation gives it a dual mandate – “price stability [ie stable inflation] and the maintenance of full employment in Australia.” But in reality the RBA seems to ignore the “full employment” aspect overall, and we now need to worry about a recession.

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