Sydney, Aug 17, 2007 (ABN Newswire) - Australian shares rose 0.4 per cent in a seesaw session this morning after three straight sessions of losses, with financial shares such as Macquarie Bank rebounding.

At Midday the S&P/ASX200 index is up 18 points to 5,730 and on the futures market the SPI 200's up 10.

In economic news, the reserve bank's Glenn Stevens told a House of Representatives committee that the recent problems in the credit markets do not warrant a change in current monetary policy. He also said that he has no reservations about the central bank's decision to raise interest rates last week. Separately, a central bank spokeswoman said the bank intervened in foreign exchange markets overnight in an effort to restore some liquidity to the market for the Australian dollar

The full report is available at the following video and audio links.

Video Link

http://abnnewswire.net/lnk/W7V7JY2H


Audio Link

http://abnnewswire.net/lnk/9RCW5710

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