Media Release The Release of Market Sensitive Information

The Bank is conducting a review of its policy and procedures on the release of market-sensitive information. The review will be conducted by the Assistant Governor (Financial Markets),
Mr Ric Battellino, and the Head of Audit, Ms Clarita Imperial, both of whom can bring an independent approach to the inquiry, as their areas of responsibility do not cover the Information Office.

Although the inquiry has been prompted by the premature release of Wednesday's monetary policy announcement, it is not primarily an investigation into that incident. The details of that incident are already well known, as the operative who made the mistake immediately alerted superiors to the error, but it was impossible to retrieve the information once it had been sent (see Media Release No. 2000-04). Instead, the inquiry will concentrate on finding:

  • what were the weaknesses in policy and procedures that allowed such an incident to occur;
  • what changes are needed to ensure it does not happen again;
  • whether any immediate release wider than the screen services is needed.

The results of the inquiry should be available within a fortnight and will be available to interested members of the public.


Dr Stephen Grenville
Deputy Governor
(02) 9551 9503