The Reserve Bank has controversially warned that more than 100,000 people will have to lose their jobs to get inflation under control.

    

They've changed your pace now. And the Reserve Bank has controversially warned that more than 100,000 people will have to lose their jobs to get inflation under control. Let's bring in a strained financial review. 

Economics Editor John Keo in Canberra. Johnny, good morning. It's not ideal when we're talking about people losing their jobs as the solution to high inflation. Yeah, morning, guys. Look, this is a tough message for aussies to swallow, isn't it? 

The Reserve Bank deputy governor, Michelle Bullock, yesterday said that these interest rate rises are designed to cool the economy, slow employment growth and ultimately push up the unemployment rate. 

To try and tame inflation, she says unemployment will need to rise from about three and a half percent to four and a half percent. That's the equivalent of about 140,000 fewer jobs over the next 18 months. 

And so, yeah, this is the unfortunate consequence of monetary policy and trying to get inflation under control, John. Unsurprisingly unions far from impressed. Yep, the unions have come out and slammed. 

The Reserve Bank said they're out of touch. They want to aim for a lower full employment rate than the Reserve Bank. I've got to say, though, the unions also have a role to play here too, James, because if we can moderate the wages growth and keep that sustainable, it means that the Reserve Bank won't need to crunch the economy as hard either. 

So, look, there's a role here for workers business, the Reserve Bank, to try and calm these price pressures down across the board. Hey, Johnny, just off topic a little bit here. You're a mad Essendon supporter. 

Should the Bombers change their logo? Oh, gee, it's a big question. Is it? Look, I'm wedded to the current logo. I understand there's a bit of debate over it, Sarah, but look, we've had it at the club for so long now, I think, yeah, a lot of Bombers supporters would be pretty disappointed if it was changed. 

It really needs to go to a pretty strong consultation, I understand. The president yesterday sent a letter to club members and going to consult on it now. But, jeez, it would be a big thing to overturn it, wouldn't it? 

It sure would be, Johnny, that's for sure. All right, mate. Thanks so much for your. Insight on all things. Ap