Future challenges will shake the RBA's comfort zone

In today's speech to Parliament, Reserve Bank governor Glenn Stevens appeared sanguine about the economy's present state, despite stepping back from dollar jawboning, but hinted at greater challenges in the medium and longer term.

The Reserve Bank of Australia has reiterated that we are likely to see unchanged interest rates for some time. But for how long? Nobody knows. RBA governor Glenn Stevens talked down house prices, hosed down suggestions of a budget emergency but neglected to say much about the exchange rate.

Stevens addressed the House of Representatives Standing Committee on Economics earlier today, covering a wide variety of topics on the Australian and global economies.

Here are some of the key points:

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