RBA's Stevens on the conduct of monetary policy

In the speech 'The conduct of monetary policy' given on 13 July Glenn Stevens of the RBA said Australia's adoption of a medium term inflation target has served the country well in its conduct of monetary policy.

Stevens also said the bank's risk management approach to policy decision making in recent years had meant that decisions to tighten rates had been infrequent.

"I believe this way of operating a medium term inflation target has served Australia well," he said in the speech to a function co

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