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RBA rate cut fails to spark market

THE Australian share market closed the day lower despite the Reserve Bank of Australia providing some pre-Christmas interest rate relief by reducing the cash rate by 25 basis points.

Lauren Barrett

The S&P/ASX 200 index reached an intraday high of 4522.8 points after the RBA cut the official cash rate to 3%, but fell to finish the day down 0.6%, or 27.9 points, to 4503.6 points. RBA governor...

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