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Australias economy posts fastest growth in two years amid strong domestic demand, but inflation and rate pressures loom

Australia's economy saw its strongest growth in almost two years during the third quarter, expanding by 2.1% year-on-year, though it slightly missed forecasts. Inflation also accelerated to 3.8% in October. Despite this uptick, the Reserve Bank of Australia remains cautious, holding interest rates steady and signaling that rate cuts might be nearing their end as inflation persists above target.