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Like most people, the RBA has a bias. But it’s costing us jobs

Millie Muroi Economics Writer October 23, 2025 — 11.05pm Advertisement

Three years ago, the jobs market was roaring, and the only thing the Reserve Bank’s economists really lost sleep over was inflation, the surge in prices leaving Australians angry and their wallets drained.

Unemployment, which was hovering around a record low of 3.5 per cent at the time, was far from the bank’s (and most people’s) worries.

The latest unemployment figure of 4.5 per cent shocked most people who were paying attention. Credit: Dionne Gain

By cranking up interest rates – and leaving them there for a while – the Reserve Bank was able to shrink the country’s inflation problem. Sure, home loan bo

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