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As it happened: Rate expectations lift ASX 200 to seven-month peak – The Sydney Morning Herald

The ASX200 shook a weak Wall St lead to rise 0.5% and hit a seven-month high on Thursday. Hopes for a November rate cut spiked after a speech by Philip Lowe.

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US markets had set local stocks up for a soft start following stalled stimulus talks, mixed bank earnings, and strong virus numbers. But for once investors were more interested in local economic news.
JP Morgan Asset Management analyst Kerry Craig agreed the ASX was primarily buoyed by increasing hopes of a November rate cut, after RBA governor Lowe seemingly gave the green light for further easing at a speech in Sydney.
The message we heard today is that the economy is improving but is still …

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Sue Gilroy