Glenn Stevens: Overview of recent economic developments in Australia Opening statement by Mr Glenn Stevens, Governor of the Reserve Bank of Australia, to the House of Representatives Standing Committee on Economics, Canberra, 18 September 2015. *  *  *  Chair Members of the Committee Thank you for the opportunity to meet with you today.
However there is a trade-off between an excessively long period, which would reduce credibility and raise questions about the commitment of the monetary authorities to low inflation, and an excessively short period in which real costs may be high. The rest is judgement for which a central bank must and shall be held accountable.