STATEMENT BY THE GOVERNOR, MR IAN MACFARLANE - MONETARY POLICY
Following a decision taken by the Board at its meeting yesterday, the Bank will be operating in the money market this morning to reduce the cash rate by 25 basis points, to 4.50 per cent.
The statement accompanying the previous easing in monetary policy on 5 September explained that international economic conditions had weakened over recent months. Information becoming available si
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