Unemployment rises to 4.6%, but RBA still expected to hike rates next week
Australia's unemployment rate rose to 4.6% in August, its highest level since November 2021, new Australian Bureau of Statistics figures show. Despite the increase, the Reserve Bank is widely expected to raise the cash rate by 0.25 percentage points to 4.6% at its board meeting next Tuesday, as it continues its fight to bring inflation under control.
