RBA governor talks up Australian economy

AUSTRALIA - Reserve Bank of Australia Governor Ian Macfarlane said on Apr 10 that he remained optmistic about growth in 2001 and that recent rate cuts are aimed at protecting the economy from a global slowdown.

In a speech to economists in Melbourne, Macfarlane indicated that a slowing world economy, in particular developments in the US, remain the main risk for Australia and suggested that the Reserve Bank could cut rates further if the global outlook deteriorates.

The Reserve Bank has cut the

To continue reading...