MEDIA RELEASE No: 2000-14 Date: 11 August 2000 Embargo: For Immediate Release

STATEMENT BY THE GOVERNOR, MR IAN MACFARLANE

PRESS REPORTING OF COMMENTS MADE IN BRISBANE

Today's Australian Financial Review misrepresented some of the comments I made in Brisbane yesterday.

The purpose of my answer was to explain why it was wrong to claim that rises in interest rates were due to the stance of fiscal policy.

My answer in no way constituted an attack on the Government's fiscal policy.

Enquiries:
Manager, Information Office
Reserve Bank of Australia
SYDNEY (02) 9551 9720