Outgoing RBA governor says initiatives from central banks not enough for growth

The Reserve Bank chief says actions by central banks haven't been enough to boost global growth.

Reserve Bank of Australia Governor, Glenn Stevens. Source: AAP

Outgoing RBA governor Glenn Stevens has warned that if the economy needs a big boost it might have to come from government spending rather than interest rates.

In his final speech as governor, Mr Stevens says he has serious reservations about the reliance on monetary policy around the world with interest rates close to zero still not able to restore demand.