Michele Bullock says Aussies won’t be ‘tossed out of their jobs’ as RBA focuses on hot labour market

Michele Bullock says Australians won’t be “tossed out of their jobs” as her Reserve Bank keeps a close eye on the strong labour market before making any move on interest rates.

Ms Bullock said the central bank was “not ruling anything in or out” after holding the official cash rate at 4.35 per cent on Tuesday.

The governor highlighted the booming jobs market and hot inflation in services — items including education, health and rents — as among the key reasons the RBA would not definitively rule out a hike.

Australia’s unemployment rate is not far off multi-decade lows at 4.1 per cent and more than 430,000 people found work in the past year.

Those numbers have consistently outperformed the expectations of most economists in recent months.

“We still have a labour market which looks on the tight-ish side,” Ms Bullock told a press conference in Sydney.

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