Interest rates in Australia and the United States may be on hold for longer than the market and borrowers are hoping, thanks to resilient jobs numbers that suggest there is no pressing need to cut rates aggressively.
In Australia, data released on Thursday showed the unemployment rate held steady at 4.1 per cent in May, even with a surprising fall in jobs. Su-Lin Ong, chief economist at RBC Capital Markets, said that the numbers showed the labour market “remains healthy”.
Source: https://www.afr.com/markets/debt-markets/rba-fed-are-in-no-rush-to-cut-interest-rates-economists-warn-20250619-p5m8oe