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Australian interest rate cuts 'on table' as inflation stays soft

The Australian inflation figures were broadly in line with market expectationsFurther interest rates cuts remain “on the table”, Australia’s central bank chief said Wednesday, as new official data showed that Australian consumer prices rose 0.7 percent in the three months to June, keeping annual inflation subdued. Reserve Bank of Australia governor Glenn Stevens said weak economic growth had seen the cash rate decline to “very low levels”. “The question of whether they might be reduced further remains, as I have said before, on the table,” Stevens said in a speech in Sydney.

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