Philip Lowe has lit a fuse under the Big Australia debate, becoming the first RBA boss in living memory to suggest that high immigration contributed to weak wages growth.
Central bank governor Philip Lowe has lit a fuse under the Big Australia debate, becoming the first Reserve Bank of Australia boss in living memory to suggest that high immigration has contributed to the country’s weak wages growth.
Lowe’s pivotal speech on the labour market will force the political class and business community to reflect on their strong backing for relatively cheap, easy growth via the large importation of foreign workers.
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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
