After reading this answer from ildjarn, I wrote the following example, and it looks like an unnamed temporary object has the same life time as its reference!
A temporary bound to a const reference increases the lifetime of the temporary till the lifetime of the constant reference.
Good Read:
GotW #88: A Candidate For the “Most Important const”
Yes it is specified in the C++ standard from the time references were introduced.
So if you are wondering if this is C++11 feature, no it is not. It already existed in C++03.