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AAP
AAP
Business
Poppy Johnston

Christmas rate cut hopes slayed as inflation holds firm

Christmas shoppers are unlikely to enjoy a rate-cut bonus in 2024. (Diego Fedele/AAP PHOTOS)

Australia's inflation rate may have undershot expectations to hold at the bottom of the central bank's target band but borrowers should not expect interest rate cuts just yet.

The annual headline inflation rate has held at 2.1 per cent in October for a second month, coming in a little below expectations of a 2.3 per cent rise.

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