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The Guardian - AU
The Guardian - AU
Business
Greg Jericho

The RBA is cutting interest rates and unemployment is at historic lows. This is not supposed to be happening

RBA Unemployment Reserve Bank Economy Inflation CPI
A crowd of pedestrians crosses a busy street
‘Right now, we are experiencing something good in the economy that no one under 55 years of age has ever known.’ Photograph: Lisa Maree Williams/Getty Images

Wages growth is slowing, unemployment is at historic lows and the Reserve Bank is also cutting rates. Welcome to the weird economy of 2025.

In this crazy world where we have an authoritarian in the White House who wants to be friends with Russia – and enemies with Canada – it is good to occasionally realise that what is happening has not always been happening.

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