Reserve Bank of Australia - Press release

PRESS RELEASE - Statement by the governor, Mr Ian MacFarlane - Monetary Policy 5 September.

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 a further 25 basis points to 4.75 per cent. International economic conditions have been weaker than expected in recent months. The US and European economies stopped growing in the middle of the year, while a number of economies in Asia are experiencing