Westpac Leading Index Gains 0.1% In January
The Australian economy inched slightly forward in January, the latest survey from Westpac Bank and the Melbourne Institute suggested on Wednesday, as its leading economic index added 0.1 percent on month. That follows the flat reading in December, and it continues the stretch of below-trend growth, Westpac said. "We still believe that an interest rate cut in March is the best policy to support domestic demand and maintain downward pressure on the Australian dollar and this outcome remains our forecast," Westpac chief economist Bill Evans said.
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