CANBERRA, ACT, May 20 -- The Treasurer of Australia issued the following media release:
Today the independent Reserve Bank of Australia Monetary Policy Board decided to lower the cash rate again for the second time in threemonths.
This quarter of a percentage point cut brings the cash rate to 3.85percent.
This is very welcome relief for millions of Australians.
We are really pleased to see more help for hard working families with a mortgage.
It reflects the substantial and sustained progress we've made together on inflation, and it recognises the uncertain global environment.
Headline and underlying inflation are now both in the RBA's target band for the first time in almost fouryears.
This is the first time since records began that ...