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Markets Live, Thursday 10 June, 2021


By Clancy Yeates
ANZ Bank has predicted rising inflation will push the Reserve Bank to raise interest rates from record lows in 2023, earlier than the central bank’s own guidance.
As markets debate the risk of inflation, ANZ economists said on Thursday they believed unemployment would keep falling, hitting 4.2 per cent by late 2023.
While wage growth has been stuck in low gear for years, the economists said the tighter labour market would push up wages growth to more than 3 per cent.
As a result, they said inflation would return to the middle of the RBA’s 2 to 3 per cent target range by the end of 2023. ....

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