If turbocharged petrol prices are driving up inflation, then why are Australia’s unemployed on the line? | Greg Jericho

Avoiding a rise in unemployment is important for the RBA – but apparently not a dealbreaker

Follow our Australia news live blog for latest updates

Get our new political email, free app or daily news podcast

And here we are again. Hello darkness my old friend. Interest rates up again and talk of a recession if needed. The Reserve Bank’s enacting legislation gives it a dual mandate – “price stability [ie stable inflation] and the maintenance of full employment in Australia”. But in reality the RBA seems to ignore the “full employment” aspect overall and we now need to worry about a recession. Continue reading...