The Australian dollar strengthened following the release of employment data, with October adding 15,900 jobs and the unemployment rate holding steady at 4.1%. This stability, despite falling short of job growth expectations, highlights a resilient labor market, lending support to the currency.
RBA Governor Michele Bullock reinforced that current interest rates are sufficiently restrictive, signaling they will remain steady until there’s clear evidence of progress toward inflation targets. Bullock’s stance underlines a cautious yet firm approach to balancing growth and inflation control.
