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The Reserve Bank of Australia (RBA) has kept interest rates at 4.35 per cent in June with a forecast of a rate increase as it does not expect a recession in Australia.
The economic outlook in recent months has been positive with strong jobs growth which is one of the many economic factors considered when reviewing rate increments or cuts. The RBA is unlikely to consider a rate cut unless unemployment figures rise further. The unemployment figure rose by a 0.1 percentage point to 4.0 per cent in May nationally which still indicates a strong jobs market.
The WA market performed much better, adding 28,000 jobs and recording an unemployment rate of 3.6 per cent. Read more here.
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