The Reserve Bank boss says global markets are "dropping their bundles" in response to recent financial and economic turbulence.
RBA governor Glenn Stevens says despite the international panic, policymakers are being honest enough to admit there is uncertainty about what lies ahead for economic growth.
"What we're all grappling with is that you can't know the future and you can't be quite sure how these dynamics will work out," Mr Stevens told the House of Representatives economics committee on Friday.
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