What is the NAIRU?
National Australian Investment Rate
Non-Accelerating Inflation Rate of Unemployment
Natural Australian Interest Rate
New Australian Inflation Rate
Answer
The NAIRU stands for the Non-Accelerating Inflation Rate of Unemployment. It is a concept used by central banks, including the Reserve Bank of Australia, to control inflation levels by managing the unemployment rate. The NAIRU has been maintained at a target of 5-6% unemployment in most western nations since 1975.
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