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Australia's Central Bank Cuts Rates Amid Inflation Progress
- Australia's central bank has cut interest rates for the first time since 2020, signaling progress on inflation but remaining cautious about further easing.
- The rate cut is a positive development for Prime Minister Albanese, who faces a challenging election ahead.
- Financial markets reacted with a slight rise in the Australian dollar, while the probability of another rate cut in the near term remains low.
Source: Reuters
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