Reserve Bank of Australia - Official Media Release

MEDIA RELEASE - Statement by the Governor, Mr Ian MacFarlane - Monetary Policy.

5 December 2001

Following a decision taken by the Board at its meeting yesterday, the Bank will be acting in the money market this morning to reduce the cash rate by a further 25 basis points, to 4.25 per cent.

International economic conditions remain weak, with the US and Japanese economies in recession, growth in Europe stalled and significant contractions over the past year in a number of Australia's east Asian tr