Interest rate cut bets jump after unemployment spikes to 4.1 percent

Money markets are now factoring in a 50 percent chance of a Reserve Bank interest rate cut after the April unemployment rate surged to 4.1 percent. Economist Stephen Koukoulas says the RBA board needs to consider a rate reduction at its next meeing on June 18 to avoid a hard economic landing. Reporter: Peter Ryan, Senior Business Correspondent Featured: Stephen Koukoulas, economist