Fed: CBA s Murray says rate rise will bite in Aust economy

AAP General News (Australia)
02-06-2000
Fed: CBA s Murray says rate rise will bite in Aust economy

CANBERRA, Feb 6 AAP - The Australian economy would feel the bite of this week's interest
rate rise and further increases would affect consumption, Commonwealth Bank of Australia
chief executive David Murray said today.

The Reserve Bank of Australia lifted interest rates by half a per cent on Wednesday,
a larger than expected increase.

The rise revived the Australian dollar, which jumped three quarters of a cent, but
was denounced by business and was criticised by a senior government minister.

Mr Murray said the current state of …