All four major banks now expect the RBA to keep the cash rate on hold at its next meeting on June 16, as the unemployment rate spikes to 4.5 per cent.

All four major banks now expect the RBA to keep the cash rate on hold at its next meeting on June 16, as the unemployment rate spikes to 4.5 per cent.

The Iran War and inflation are starting to hit Australia’s jobs market. Experts say this has effectively killed the likelihood of another rate rise next month.