Australia shares end at near 1-yr high as interest rate decision looms

August 1, 2016 6:25 AM

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SYDNEY Aug 1 Australian shares rallied to a near one-year high on Monday, as growing speculation of a rate cut by the Reserve Bank of Australia this week drove more investors out of bonds and into equities.

The S&P/ASX 200 index ended up 25 points, or 0.45 percent, at 5,587.4.

Also read: Brazil’s Central Bank Keeps Key Rate Steady for First Time in 13 Meetings

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