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Interest rate cut bets jump after unemployment spikes to 4.1 percent

Interest rate cut bets jump after unemployment spikes to 4.1 percent

Released Thursday, 16th May 2024
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Interest rate cut bets jump after unemployment spikes to 4.1 percent

Interest rate cut bets jump after unemployment spikes to 4.1 percent

Interest rate cut bets jump after unemployment spikes to 4.1 percent

Interest rate cut bets jump after unemployment spikes to 4.1 percent

Thursday, 16th May 2024
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Money markets are now factoring in a 50 percent chance of a Reserve Bank interest rate cut after the April unemployment rate surged to 4.1 percent. Economist Stephen Koukoulas says the RBA board needs to consider a rate reduction at its next meeing on June 18 to avoid a hard economic landing.

Reporter: Peter Ryan, Senior Business CorrespondentFeatured: Stephen Koukoulas, economist

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Peter Ryan_ABC News Soundcloud

Peter Ryan is the one of the ABC's most experienced journalists, contributing to a range of ABC News programs including the flagship radio current affairs program AM, The World Today, PM and ABC NewsRadio.With more than 30 years of journalism experience, Peter rejoined the ABC in 2003 as Executive Producer of the ABC Television's Business Breakfast program.In 2006, he oversaw the development of two new business programs - Lateline Business on ABC Television and Business Today on the ABC's Asia Pacific television service, Australia Network.Peter's previous journalism career included three years as the ABC's Head of TV News and Current Affairs in Melbourne; more than four years as Bureau Chief and television correspondent at the ABC's Washington Bureau; a year as a producer at the BBC in London; and a range of ABC reporting and producing roles in Melbourne, Sydney, Darwin and the South Pacific.In addition to journalism, Peter Ryan spent four years in the corporate communications sector as a Director at Weber Shandwick Worldwide and then as a Principal at Porter Novelli in Melbourne.Peter began his journalism career in newspapers at Sydney's Daily Mirror and he worked in Sydney commercial radio before joining the ABC in 1984.All copyright and intellectual property used in these reports resides with the Australian Broadcasting Corporation.

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