RBA's Kent says RBA is not targeting the unemployment rate with policy

Reserve Bank of Australia Assistant Governor (Financial Markets) Christopher Kent in the Q&A session

• Says the RBA is an inflation targeting Bank
• Not targeting the unemployment rate
• but there is more spare capacity than we've anticipated

OK … so TL;DR version is the RBA is targeting the unemployment rate. Even more TL;DR version is the Bank is in easing mode. More rate cuts ahead.

AUD response is zzzzzzzzzzzzzzzzzz …. not much movement at all.

More:

• its unlikely there will be a need for unconventional policies, but its possible
• negative rates at the more extreme end of unconventional policy

Earlier post:

• RBA's Kent: Lower rates in Australia are easing financial conditions