Australia's Reserve Bank expects growth in country's unemployment rate

Unemployment will have to rise to bring inflation under control and eventually end further increases in official interest rates, said Michele Bullock, deputy governor of the Reserve Bank of Australia.

Report informs via foreign media that, according to the deputy governor, the jobless rate will likely gradually lift to about 4.5% by the end of next year to restore balance in economy.

Jobless rate in Australia made 3.6% in May, which approximately corresponds to the 50-year minimum.