SYDNEY: Australia's unemployment rate spiked unexpectedly to a near four-year high in September as more people went looking for work, a weak result that revived hopes for more policy easing.
Investors ramped up bets for a rate cut from the Reserve Bank of Australia in November to 72%, from just 40% before the data. Prospects for more easing had faded as policymakers fret about sticky inflation and a sharp revival in consumer spending.
