RBA Confirm Only Another 100,000 People Need To Lose Their Jobs For Rates To Stay On Hold For A While

WENDELL HUSSEY | Cadet | CONTACT

The Reserve Bank of Australia has today offered up some clarity on a major issue.

Governor Michelle Bullock has revealed what needs to happen for interest rates to stay on hold for the next little while.

"Two things," said Bullock in an exclusive interview with The Advocate this afternoon.

"The first being no more wars overseas that drive up the price of things like oil, that in turn drive up the price of everything here and provide a guise for multinational companies to profiteer and price gouge."

"Or inflation as we call it for you simpletons."

When our newspaper raised the fact that individuals can't really do anything about that, and our government seems too reluctant to implement policies that curb the aforementioned profiteering and price gouging, Bullock moved on.

"Yes, which is why I'm about to move on to the second thing, which ordinary Aussies can help with."

"Losing their job."

Bullock's come as the unemployment rate jumped by a .1% this month, as another 15,000 people found themselves out of work in the middle of a cost of living crisis.

And while the numbers are great for the economists who move things around in their spreadsheets, Bullock said it's not enough.

"If we can get another 100,000 to quit or lose their jobs in the next few months, then we can keep interest rates on hold until maybe even the end of next year."

"It's as simple as that. Target Inflation + Unemployment = Nice Interest Rates."

"Don't hate the player, hate the game."