Australian inflation rate tumbled by annualized 1.6% in June

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Source: Forexfactory
Australian inflation rate has declined to the lowest level since the world's financial crisis, boosting hopes that the central bank may reduce the interest rates further. The inflation gauge measured by TD-Securities-Melbourne Institute dropped by 1.6% in June on an annual basis, the lowest mark since 2009. The figure spurred speculation that the Reserve Bank of Australia, which has inflation target of 2-3%, may announce further interest rate cuts at its monthly meeting due on Tuesday.


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