The Reserve Bank of Australia may not like low unemployment but it is “good for Australian workers”, cabinet minister Tanya Plibersek says. RBA chief Michele Bullock has said there was a threshold where low joblessness rates could fuel inflation by slapping “a lot of pressure in the labour market” that could in turn “put upward pressure on wages and prices”. “It puts pressure on costs for businesses, that finds its way into prices,” Ms Bullock said last week. “Between 4.5 and 5 (per cent) will probably take enough heat out of the labour market that it’ll ease pressure on inflation.” The comments came as the unemployment rate edged up to 0.1 per cent to 4.6 per cent in August. With the RBA mulling an interest rate hike this week, Ms Plibersek denied claims federal spending was driving inflation and said high employment was a sign “the fundamentals of the Australian economy are very strong”. “And in fact, the basics of the Australian economy are very strong,” she told Seven’s Sunrise, noting that Australia was “one of only nine countries that have a triple-A credit rating from all three major ratings agencies”. “We’ve reduced the debt that we was left by the previous government. We’ve had two budget surpluses.” Turning to joblessness, she said touted that it was “very low”. “I know that that doesn’t automatically make the Reserve Bank happy, but it certainly is good for Australian workers,” Ms Plibersek said. “And we’ve got strong growth – the only country that’s growing faster is the United States.” She added the Albanese government wanted to “take those day-to-day pressures off Australians”. The International Monetary Fund earlier this month partially agreed. “Strong employment gains, resilient household demand, robust business investment, and public infrastructure activity underpinned a solid cyclical position,” it said. “These are complemented by structural strengths – including strong institutions, a skilled workforce, a sound financial system, and public debt that remains low relative to many advanced economies – which have provided a solid foundation for stable growth and resilience to large shocks.” However, the IMF warned “inflation remains a central challenge” and called on federal and state and territory governments to cut spending. It also said the RBA should be prepared to hike interest rates to curb inflation. Also fronting media on Monday, Finance Minister Katy Gallagher was asked about Australians bracing for high mortgage repayments ahead of the RBA’s decision to be announced on Tuesday. She said the Albanese government knew “people are doing it really tough right now”. “There’s a global inflation challenge,” she told ABC’s News Breakfast. “We’ve seen across other advanced economies interest rates going up in the last month or so. “The war in the Middle East could not end soon enough, really, because we are feeling that both in inflation and also at the petrol bowser.” Senator Gallagher insisted the Albanese government was showing spending restraint.

The Reserve Bank of Australia may not like low unemployment but it is “good for Australian workers”, cabinet minister Tanya Plibersek says. RBA chief Michele Bullock has said there was a threshold where low joblessness rates could fuel inflation by slapping “a lot of pressure in the labour market” that could in turn “put upward pressure on wages and prices”. “It puts pressure on costs for businesses, that finds its way into prices,” Ms Bullock said last week. “Between 4.5 and 5 (per cent) will probably take enough heat out of the labour market that it’ll ease pressure on inflation.” The comments came as the unemployment rate edged up to 0.1 per cent to 4.6 per cent in August. With the RBA mulling an interest rate hike this week, Ms Plibersek denied claims federal spending was driving inflation and said high employment was a sign “the fundamentals of the Australian economy are very strong”. “And in fact, the basics of the Australian economy are very strong,” she told Seven’s Sunrise, noting that Australia was “one of only nine countries that have a triple-A credit rating from all three major ratings agencies”. “We’ve reduced the debt that we was left by the previous government. We’ve had two budget surpluses.” Turning to joblessness, she said touted that it was “very low”. “I know that that doesn’t automatically make the Reserve Bank happy, but it certainly is good for Australian workers,” Ms Plibersek said. “And we’ve got strong growth – the only country that’s growing faster is the United States.” She added the Albanese government wanted to “take those day-to-day pressures off Australians”. The International Monetary Fund earlier this month partially agreed. “Strong employment gains, resilient household demand, robust business investment, and public infrastructure activity underpinned a solid cyclical position,” it said. “These are complemented by structural strengths – including strong institutions, a skilled workforce, a sound financial system, and public debt that remains low relative to many advanced economies – which have provided a solid foundation for stable growth and resilience to large shocks.” However, the IMF warned “inflation remains a central challenge” and called on federal and state and territory governments to cut spending. It also said the RBA should be prepared to hike interest rates to curb inflation. Also fronting media on Monday, Finance Minister Katy Gallagher was asked about Australians bracing for high mortgage repayments ahead of the RBA’s decision to be announced on Tuesday. She said the Albanese government knew “people are doing it really tough right now”. “There’s a global inflation challenge,” she told ABC’s News Breakfast. “We’ve seen across other advanced economies interest rates going up in the last month or so. “The war in the Middle East could not end soon enough, really, because we are feeling that both in inflation and also at the petrol bowser.” Senator Gallagher insisted the Albanese government was showing spending restraint.

The Reserve Bank of Australia may not like low unemployment but it is “good for Australian workers”, cabinet minister Tanya Plibersek says. RBA chief Michele Bullock has said there was a threshold where low joblessness rates could fuel inflation by slapping “a lot of pressure in the labour market” that could in turn “put upward pressure on wages and prices”. “It puts pressure on costs for businesses, that finds its way into prices,” Ms Bullock said last week. “Between 4.5 and 5 (per cent) will probably take enough heat out of the labour market that it’ll ease pressure on inflation.” The comments came as the unemployment rate edged up to 0.1 per cent to 4.6 per cent in August. With the RBA mulling an interest rate hike this week, Ms Plibersek denied claims federal spending was driving inflation and said high employment was a sign “the fundamentals of the Australian economy are very strong”. “And in fact, the basics of the Australian economy are very strong,” she told Seven’s Sunrise, noting that Australia was “one of only nine countries that have a triple-A credit rating from all three major ratings agencies”. “We’ve reduced the debt that we was left by the previous government. We’ve had two budget surpluses.” Turning to joblessness, she said touted that it was “very low”. “I know that that doesn’t automatically make the Reserve Bank happy, but it certainly is good for Australian workers,” Ms Plibersek said. “And we’ve got strong growth – the only country that’s growing faster is the United States.” She added the Albanese government wanted to “take those day-to-day pressures off Australians”. The International Monetary Fund earlier this month partially agreed. “Strong employment gains, resilient household demand, robust business investment, and public infrastructure activity underpinned a solid cyclical position,” it said. “These are complemented by structural strengths – including strong institutions, a skilled workforce, a sound financial system, and public debt that remains low relative to many advanced economies – which have provided a solid foundation for stable growth and resilience to large shocks.” However, the IMF warned “inflation remains a central challenge” and called on federal and state and territory governments to cut spending. It also said the RBA should be prepared to hike interest rates to curb inflation. Also fronting media on Monday, Finance Minister Katy Gallagher was asked about Australians bracing for high mortgage repayments ahead of the RBA’s decision to be announced on Tuesday. She said the Albanese government knew “people are doing it really tough right now”. “There’s a global inflation challenge,” she told ABC’s News Breakfast. “We’ve seen across other advanced economies interest rates going up in the last month or so. “The war in the Middle East could not end soon enough, really, because we are feeling that both in inflation and also at the petrol bowser.” Senator Gallagher insisted the Albanese government was showing spending restraint.

The Reserve Bank of Australia may not like low unemployment but it is “good for Australian workers”, cabinet minister Tanya Plibersek says. RBA chief Michele Bullock has said there was a threshold where low joblessness rates could fuel inflation by slapping “a lot of pressure in the labour market” that could in turn “put upward pressure on wages and prices”. “It puts pressure on costs for businesses, that finds its way into prices,” Ms Bullock said last week. “Between 4.5 and 5 (per cent) will probably take enough heat out of the labour market that it’ll ease pressure on inflation.” The comments came as the unemployment rate edged up to 0.1 per cent to 4.6 per cent in August. With the RBA mulling an interest rate hike this week, Ms Plibersek denied claims federal spending was driving inflation and said high employment was a sign “the fundamentals of the Australian economy are very strong”. “And in fact, the basics of the Australian economy are very strong,” she told Seven’s Sunrise, noting that Australia was “one of only nine countries that have a triple-A credit rating from all three major ratings agencies”. “We’ve reduced the debt that we was left by the previous government. We’ve had two budget surpluses.” Turning to joblessness, she said touted that it was “very low”. “I know that that doesn’t automatically make the Reserve Bank happy, but it certainly is good for Australian workers,” Ms Plibersek said. “And we’ve got strong growth – the only country that’s growing faster is the United States.” She added the Albanese government wanted to “take those day-to-day pressures off Australians”. The International Monetary Fund earlier this month partially agreed. “Strong employment gains, resilient household demand, robust business investment, and public infrastructure activity underpinned a solid cyclical position,” it said. “These are complemented by structural strengths – including strong institutions, a skilled workforce, a sound financial system, and public debt that remains low relative to many advanced economies – which have provided a solid foundation for stable growth and resilience to large shocks.” However, the IMF warned “inflation remains a central challenge” and called on federal and state and territory governments to cut spending. It also said the RBA should be prepared to hike interest rates to curb inflation. Also fronting media on Monday, Finance Minister Katy Gallagher was asked about Australians bracing for high mortgage repayments ahead of the RBA’s decision to be announced on Tuesday. She said the Albanese government knew “people are doing it really tough right now”. “There’s a global inflation challenge,” she told ABC’s News Breakfast. “We’ve seen across other advanced economies interest rates going up in the last month or so. “The war in the Middle East could not end soon enough, really, because we are feeling that both in inflation and also at the petrol bowser.” Senator Gallagher insisted the Albanese government was showing spending restraint.

The Reserve Bank of Australia may not like low unemployment but it is “good for Australian workers”, cabinet minister Tanya Plibersek says. RBA chief Michele Bullock has said there was a threshold where low joblessness rates could fuel inflation by slapping “a lot of pressure in the labour market” that could in turn “put upward pressure on wages and prices”. “It puts pressure on costs for businesses, that finds its way into prices,” Ms Bullock said last week. “Between 4.5 and 5 (per cent) will probably take enough heat out of the labour market that it’ll ease pressure on inflation.” The comments came as the unemployment rate edged up to 0.1 per cent to 4.6 per cent in August. With the RBA mulling an interest rate hike this week, Ms Plibersek denied claims federal spending was driving inflation and said high employment was a sign “the fundamentals of the Australian economy are very strong”. “And in fact, the basics of the Australian economy are very strong,” she told Seven’s Sunrise, noting that Australia was “one of only nine countries that have a triple-A credit rating from all three major ratings agencies”. “We’ve reduced the debt that we was left by the previous government. We’ve had two budget surpluses.” Turning to joblessness, she said touted that it was “very low”. “I know that that doesn’t automatically make the Reserve Bank happy, but it certainly is good for Australian workers,” Ms Plibersek said. “And we’ve got strong growth – the only country that’s growing faster is the United States.” She added the Albanese government wanted to “take those day-to-day pressures off Australians”. The International Monetary Fund earlier this month partially agreed. “Strong employment gains, resilient household demand, robust business investment, and public infrastructure activity underpinned a solid cyclical position,” it said. “These are complemented by structural strengths – including strong institutions, a skilled workforce, a sound financial system, and public debt that remains low relative to many advanced economies – which have provided a solid foundation for stable growth and resilience to large shocks.” However, the IMF warned “inflation remains a central challenge” and called on federal and state and territory governments to cut spending. It also said the RBA should be prepared to hike interest rates to curb inflation. Also fronting media on Monday, Finance Minister Katy Gallagher was asked about Australians bracing for high mortgage repayments ahead of the RBA’s decision to be announced on Tuesday. She said the Albanese government knew “people are doing it really tough right now”. “There’s a global inflation challenge,” she told ABC’s News Breakfast. “We’ve seen across other advanced economies interest rates going up in the last month or so. “The war in the Middle East could not end soon enough, really, because we are feeling that both in inflation and also at the petrol bowser.” Senator Gallagher insisted the Albanese government was showing spending restraint.

The Reserve Bank of Australia may not like low unemployment but it is “good for Australian workers”, cabinet minister Tanya Plibersek says. RBA chief Michele Bullock has said there was a threshold where low joblessness rates could fuel inflation by slapping “a lot of pressure in the labour market” that could in turn “put upward pressure on wages and prices”. “It puts pressure on costs for businesses, that finds its way into prices,” Ms Bullock said last week. “Between 4.5 and 5 (per cent) will probably take enough heat out of the labour market that it’ll ease pressure on inflation.” The comments came as the unemployment rate edged up to 0.1 per cent to 4.6 per cent in August. With the RBA mulling an interest rate hike this week, Ms Plibersek denied claims federal spending was driving inflation and said high employment was a sign “the fundamentals of the Australian economy are very strong”. “And in fact, the basics of the Australian economy are very strong,” she told Seven’s Sunrise, noting that Australia was “one of only nine countries that have a triple-A credit rating from all three major ratings agencies”. “We’ve reduced the debt that we was left by the previous government. We’ve had two budget surpluses.” Turning to joblessness, she said touted that it was “very low”. “I know that that doesn’t automatically make the Reserve Bank happy, but it certainly is good for Australian workers,” Ms Plibersek said. “And we’ve got strong growth – the only country that’s growing faster is the United States.” She added the Albanese government wanted to “take those day-to-day pressures off Australians”. The International Monetary Fund earlier this month partially agreed. “Strong employment gains, resilient household demand, robust business investment, and public infrastructure activity underpinned a solid cyclical position,” it said. “These are complemented by structural strengths – including strong institutions, a skilled workforce, a sound financial system, and public debt that remains low relative to many advanced economies – which have provided a solid foundation for stable growth and resilience to large shocks.” However, the IMF warned “inflation remains a central challenge” and called on federal and state and territory governments to cut spending. It also said the RBA should be prepared to hike interest rates to curb inflation. Also fronting media on Monday, Finance Minister Katy Gallagher was asked about Australians bracing for high mortgage repayments ahead of the RBA’s decision to be announced on Tuesday. She said the Albanese government knew “people are doing it really tough right now”. “There’s a global inflation challenge,” she told ABC’s News Breakfast. “We’ve seen across other advanced economies interest rates going up in the last month or so. “The war in the Middle East could not end soon enough, really, because we are feeling that both in inflation and also at the petrol bowser.” Senator Gallagher insisted the Albanese government was showing spending restraint.

The Reserve Bank of Australia may not like low unemployment but it is “good for Australian workers”, cabinet minister Tanya Plibersek says. RBA chief Michele Bullock has said there was a threshold where low joblessness rates could fuel inflation by slapping “a lot of pressure in the labour market” that could in turn “put upward pressure on wages and prices”. “It puts pressure on costs for businesses, that finds its way into prices,” Ms Bullock said last week. “Between 4.5 and 5 (per cent) will probably take enough heat out of the labour market that it’ll ease pressure on inflation.” The comments came as the unemployment rate edged up to 0.1 per cent to 4.6 per cent in August. With the RBA mulling an interest rate hike this week, Ms Plibersek denied claims federal spending was driving inflation and said high employment was a sign “the fundamentals of the Australian economy are very strong”. “And in fact, the basics of the Australian economy are very strong,” she told Seven’s Sunrise, noting that Australia was “one of only nine countries that have a triple-A credit rating from all three major ratings agencies”. “We’ve reduced the debt that we was left by the previous government. We’ve had two budget surpluses.” Turning to joblessness, she said touted that it was “very low”. “I know that that doesn’t automatically make the Reserve Bank happy, but it certainly is good for Australian workers,” Ms Plibersek said. “And we’ve got strong growth – the only country that’s growing faster is the United States.” She added the Albanese government wanted to “take those day-to-day pressures off Australians”. The International Monetary Fund earlier this month partially agreed. “Strong employment gains, resilient household demand, robust business investment, and public infrastructure activity underpinned a solid cyclical position,” it said. “These are complemented by structural strengths – including strong institutions, a skilled workforce, a sound financial system, and public debt that remains low relative to many advanced economies – which have provided a solid foundation for stable growth and resilience to large shocks.” However, the IMF warned “inflation remains a central challenge” and called on federal and state and territory governments to cut spending. It also said the RBA should be prepared to hike interest rates to curb inflation. Also fronting media on Monday, Finance Minister Katy Gallagher was asked about Australians bracing for high mortgage repayments ahead of the RBA’s decision to be announced on Tuesday. She said the Albanese government knew “people are doing it really tough right now”. “There’s a global inflation challenge,” she told ABC’s News Breakfast. “We’ve seen across other advanced economies interest rates going up in the last month or so. “The war in the Middle East could not end soon enough, really, because we are feeling that both in inflation and also at the petrol bowser.” Senator Gallagher insisted the Albanese government was showing spending restraint.

The Reserve Bank of Australia may not like low unemployment but it is “good for Australian workers”, cabinet minister Tanya Plibersek says. RBA chief Michele Bullock has said there was a threshold where low joblessness rates could fuel inflation by slapping “a lot of pressure in the labour market” that could in turn “put upward pressure on wages and prices”. “It puts pressure on costs for businesses, that finds its way into prices,” Ms Bullock said last week. “Between 4.5 and 5 (per cent) will probably take enough heat out of the labour market that it’ll ease pressure on inflation.” The comments came as the unemployment rate edged up to 0.1 per cent to 4.6 per cent in August. With the RBA mulling an interest rate hike this week, Ms Plibersek denied claims federal spending was driving inflation and said high employment was a sign “the fundamentals of the Australian economy are very strong”. “And in fact, the basics of the Australian economy are very strong,” she told Seven’s Sunrise, noting that Australia was “one of only nine countries that have a triple-A credit rating from all three major ratings agencies”. “We’ve reduced the debt that we was left by the previous government. We’ve had two budget surpluses.” Turning to joblessness, she said touted that it was “very low”. “I know that that doesn’t automatically make the Reserve Bank happy, but it certainly is good for Australian workers,” Ms Plibersek said. “And we’ve got strong growth – the only country that’s growing faster is the United States.” She added the Albanese government wanted to “take those day-to-day pressures off Australians”. The International Monetary Fund earlier this month partially agreed. “Strong employment gains, resilient household demand, robust business investment, and public infrastructure activity underpinned a solid cyclical position,” it said. “These are complemented by structural strengths – including strong institutions, a skilled workforce, a sound financial system, and public debt that remains low relative to many advanced economies – which have provided a solid foundation for stable growth and resilience to large shocks.” However, the IMF warned “inflation remains a central challenge” and called on federal and state and territory governments to cut spending. It also said the RBA should be prepared to hike interest rates to curb inflation. Also fronting media on Monday, Finance Minister Katy Gallagher was asked about Australians bracing for high mortgage repayments ahead of the RBA’s decision to be announced on Tuesday. She said the Albanese government knew “people are doing it really tough right now”. “There’s a global inflation challenge,” she told ABC’s News Breakfast. “We’ve seen across other advanced economies interest rates going up in the last month or so. “The war in the Middle East could not end soon enough, really, because we are feeling that both in inflation and also at the petrol bowser.” Senator Gallagher insisted the Albanese government was showing spending restraint.