July 25, 2019 / 3:59 AM / 4 months ago

Australia central bank confident inflation target will stay: governor

FILE PHOTO: Australia's new Reserve Bank of Australia (RBA) Governor Philip Lowe speaks at a parliamentary economics committee meeting in Sydney, September 22, 2016. REUTERS/Jason Reed/File Photo

SYDNEY (Reuters) - Australia’s top central banker said on Thursday he was confident the country’s newly re-elected government will agree on keeping its 2-3% long-term inflation target, amid calls to review the policy framework.

Reserve Bank of Australia (RBA) Governor Philip Lowe said there might be some drafting changes in wording of the monetary policy agreement between the government and the independent central bank that guides its actions on interest rates.

Lowe was responding to questions following a speech on ‘Inflation Targeting and Economic Welfare’ in Sydney.

Reporting by Swati Pandey; Editing by Kim Coghill

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