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Lower than expected unemployment figures released by the ABS reduce the likelihood of another rate cut next month.
According to the ABS, the unemployment rate dipped to 4.1 per cent last month, from 4.3 per cent in July – much better than the expected 4.4 per cent.
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Diminishing fears over employment coupled with resurgent consumer confidence could persuade the RBA to leave the cash rate unchanged in October.
Published: 11-09-08
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