RBA's Stevens backs inflation target - UOB

Analysts at UOB Group noted that in the final speech from Reserve Bank of Australia (RBA) Governor Glenn Stevens focused on inflation and monetary policy.

Key Quotes:

"He stood up for the RBA’s inflation target saying that although inflation is under the 2-3% target, it is not a rigid thing that requires a knee-jerk response."

"He added that the central bank has got adequate flexibility to look at the broad picture. Stevens seemed confident that a rise in inflation was on the cards and said that he thinks it will work out in time."