Australia news live: RBA governor says migration boosting economy not adding to inflation but ‘where it bites is housing market’

The Reserve Bank of Australia's governor has stated that migration is boosting the economy, but its impact is mainly felt in the housing market. This means that while migration is contributing to overall economic growth, it is also driving up housing prices and potentially making it harder for people to afford homes. The housing market is a key area of concern for many Australians, and this statement highlights the complex relationship between migration, economic growth, and housing affordability.

Why it matters

The RBA governor's comments on migration's impact on the economy and housing market are being closely watched. The statement suggests that migration is supporting the economy without adding to inflation, but it is affecting the housing market.

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