ACTU calls for overhaul of Reserve Bank's inflation mandate ahead of Jobs Summit

Tensions are heating up ahead of next month's Jobs and Skills Summit, with the ACTU accusing the Reserve Bank of risking a recession in its pursuit of runaway inflation. 

The union movement's key advocate wants the federal government to use the summit to focus on full and secure employment rather than being driven by the RBA's mandate to key inflation under control. 

Also, the Commonwealth Bank's reports a 9 percent rise in its full year profit to $9.68 billion dollars. That's been driven by a surge in home lending last year, fuelled by record low interest rates before the property market began to cool.

I speak on ABC Newsradio with Tom Oriti