RBA's Lowe: Global factors are at work in inflation situation

Philip Lowe, Governor of the Reserve Bank of Australia, is delivering his remarks at the ECB's panel titled 'Price and wage setting in advanced economies.'

Key quotes (via Reuters)

• Global factors are at work in inflation situation.
• There is a perception that we just need to accept that inflation is going to be low for a while.
• Australia is hoping to extend the non-recession streak.
• Need to be patient as long as the labor market is improving.