Australia’s unemployment rate jumps to 4.5% with markets slashing chance of more interest rate hikes

Surprise rise in jobless rate will give Reserve Bank more reason to delay another interest rate hike at June meetingFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastAustralia’s unemployment rate has jumped to 4.5% in April to reach the highest in about four and half years, amid fears rising interest rates and the global oil crisis will smash economic growth.The surprise rise in unemployment will provide the Reserve Bank with more reason to hold off on a fourth rate hike at its next meeting in June, as financial markets slashed the chance of more interest rate rises this year. Continue reading...