The Reserve Bank of Australia has given indication that the interest rate may be increased in the upcoming time because of newly generated 30,900 jobs in August. Not only the jobs of full-time workers have been increased but the part time workers have also seen a tremendous rise in their jobs.

There has been a humongous increase in jobs in the past years in Australia. More than a quarter million jobs were generated in Australia in the year 2009-10 which came as a big shock for the northern hemisphere economies that are still witnessing the economical slow down.

The Unemployment rate is dripping down slowly and hence the reserve Bank is seeing this as a master opportunity to hike up the interest rate. RBA Deputy Governor Ric Battalion has already told in the past that the Australian economy is working at close to capacity and will be in full swing by the end of the year.

The hike in the interest rate might be seen in the month of October or early November.