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Australia’s Economy Powers Into 2022, Raising Pressure on RBA

  • Records largest monthly jobs gain ever as unemployment tumbles
  • Government is forecasting a faster expansion, surge in hiring
Philip Lowe 
Philip Lowe Photographer: Brendon Thorne/Bloomberg
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Australia is poised to power into 2022, increasing pressure on the Reserve Bank to unwind its vast stimulus program and delivering a tailwind to the conservative government in its bid for a come-from-behind election win.

Bond yields surged Thursday after the economy recorded its largest monthly jobs gain. Just an hour earlier, Governor Philip Lowe delivered an upbeat speech in which he acknowledged faster progress on employment and inflation could see the central bank end its bond buying program at a February review.