Stevens expects that global anxieties are not only having an impact on consumer spending behaviour but could help ease current inflationary pressures.
In a speech made today in Perth titled “Still Interesting Times”, he also stressed that people should not jump to conclusions about the current sovereign debt issues in Europe being comparable with the 2008 GFC.
Stevens says during periods of “sudden increases in anxiety within international financial markets are moments when, if at all possible, it is good to be in a position to be able to maintain steady settings”.