Statement by Ian Macfarlane of the RBA, 5 June

PRESS RELEASE - Statement by Ian Macfarlane, Governor of the Reserve Bank of Australia, on monetary policy:

Following a decision taken by the Board at its meeting yesterday, the Bank will be acting in the money market this morning to increase the cash rate by 25 basis points, to 4.75 per cent.

Recent indicators have confirmed that the global economic recovery under way since the beginning of the year is continuing, even though the pace of growth across the major regions is still uneven. In the