More than a year after the first rate cuts by the European Central Bank (ECB) and the US Fed since the pandemic, Australia has finally joined the global rate cycle by trimming borrowing costs in the country by a quarter point in late February. The Pacific country is one of the last developed economies in the world to pivot on its interest rate stance. The lone exception remains Japan, which is, in fact, raising capital costs after decades of negative rates and inflation. The quarter-point cut

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