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Australia’s Westpac Leading Index Advanced 0.2% in February
An Australian index of leading economic indicators advanced in February as gains in stocks and money supply outweighed a decline in dwelling approvals. The index, a gauge of future economic growth, rose 0.2 percent from a month earlier to 284.2, Westpac Banking Corp. (WBC) and the Melbourne Institute said in a statement in Sydney today. Reserve Bank Governor Glenn Stevens signaled this month he may end a three-month pause in interest-rate cuts as soon as next month if weaker-than-forecast growth slows inflation. The central bank lowered borrowing costs in November and December, to 4.25 percent, to buttress the ... (full story)