CBA has dropped its end of 2021 Australian unemployment rate forecast to 5% from 5.5%

Commonwealth Bank of Australia analysts ahead of this week's jobs report (Thursday local time). The lowering of the forecast to 5% from prior forecast of 5.5% is significant. The Reserve Bank of Australia is targeting lower unemployment reasoning that this will exert pressure for higher wages and thus higher inflation, and, eventually, a tightening of monetary