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AAP
AAP
Business
Derek Rose

Aussie shares hit record high as rate-cut hopes grow

United States NAB US Federal Reserve
The benchmark S&P/ASX200 index ballooned to 1.5 points from its best closing high. (Mick Tsikas/AAP PHOTOS)

The share market hit an intraday record before moderating its gains, coming within a whisper of its highest finish amid growing expectations the Reserve Bank will cut rates in February.

The benchmark S&P/ASX200 index on Thursday finished up 46.7 points, or 0.55 per cent, to 8,493.7, just 1.5 points from its best-ever finish set on December 3.

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