Unemployment needs to rise to show rate hikes are ‘actually working’

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The Switzer Report Founder Peter Switzer says on Wednesday the US gets the Consumer Price Index and if it is subdued the market will “like it”. “If it’s too enthusiastic, too high, then the market won’t like it,” Mr Switzer told Sky News Australia. “Locally we’ve got business confidence and consumer confidence and then later in the week, we get unemployment. “In a sense, we need to see unemployment rising. “To show that the Reserve Bank’s interest rate rises are actually working to slow the economy down and beat inflation.”