Fed: Crean says RBA should give more detail on rate moves

AAP General News (Australia)
04-06-2001
Fed: Crean says RBA should give more detail on rate moves

CANBERRA, April 6 AAP - Opposition treasury spokesman Simon Crean said today he favoured
the Reserve Bank publishing more detail of how it arrives at its monthly interest rate
decisions.

Mr Crean indicated he was not convinced that the RBA should publish minutes of its
meetings, something the US Federal Reserve and other central banks already do.

"I'm more attracted to the fact that we should get better reasons for why decisions
[are] taken by the Reserve Bank, what they are based upon," he told Dow Jones/CNBC.

"It's very important they should have their independence but independence carries with
it accountability as well."

AAP jph/daw/was

KEYWORD: RBA CREAN

2001 AAP Information Services Pty Limited (AAP) or its Licensors.