Australian Stocks Rally to Fresh Record High as Inflation Cools [Yahoo! Finance]
TABCORP HOLDINGS UNSP/ADR (TACBY)
NASDAQ:AMEX Investor Relations:
tabcorp.com.au/investors
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Source: Yahoo! Finance
(Bloomberg) -- Australia's equity benchmark surged, on track to exceed its all-time closing high after inflation data bolstered bets for monetary policy easing. Most Read from Bloomberg Musk's $55 Billion Pay Package Voided, Threatening World's Biggest Fortune Musk Says First Neuralink Patient Received Implant in Brain Microsoft Sales Top Estimates; Cloud Growth Disappoints Some Tech Giants Slide in Late Trading After Earnings: Markets Wrap UPS CEO Kicks Off Productivity Drive by Cutting 12,000 Managers The S&P/ASX 200 Index advanced as much as 1% on Wednesday, surpassing its previous peak set in August 2021. The gain comes after Australia's headline inflation cooled further in the final three months of 2023, cementing the case for the Reserve Bank to keep interest rates unchanged next week. The data bolstered bets of a rate cut by mid year, with money market pricing now implying a 70% chance of a reduction in June, up from about 50% on Tuesday, and fully pricing an A
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