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ASX 200 jumps to record high on rate cut hopes as inflation cools; IGO mothballs nickel mine

Market pricing two 2024 rate cuts, from August, as inflation cools more than expected. ASX sets record intraday and closing highs. Aussie dollar drops. Judge slams Westpac penalty. IGO mothballs nickel mine.

David Rogers, Joseph Carbone and Megan Neil
less than 2 min read
6:07AMJanuary 31, 2024.
Updated 5:03PMJanuary 31, 2024
The Australian Business Network
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The ASX 200 has hit an intraday record high even after a mixed day on Wall Street. Picture: Jeremy Piper
The ASX 200 has hit an intraday record high even after a mixed day on Wall Street. Picture: Jeremy Piper

Welcome to the Trading Day blog for Wednesday, January 31. The ASX 200 hits an all-time high of 7682.30 points after the CPI data, before ending at a record close of 7680.70 points, up 1.1 per cent.

The Aussie dollar is lower after the CPI data, and is trading around US65.69c.

More Coverage

RBA will be in no hurry to cut interest rates
Sally Auld
Read related topics:ASXWestpac

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Original URL: https://www.theaustralian.com.au/business/trading-day/asx-200-to-fall-after-mixed-day-on-wall-street-cpi-data-due/live-coverage/7902cfeee53a2724ff9591583658a537