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AAP
AAP
Business
Derek Rose

SHOCKING: Aussie shares gain as hopes grow for february rate cut - You Need To See This

The local share market, already in the green, was boosted by better chances of an interest rate cut. (Bianca De Marchi/AAP PHOTOS)

The Australian share market has rallied to an eight-week high after cooler-than-expected inflation figures boosted the odds of an interest rate cut in February.

The benchmark S&P/ASX200 index on Wednesday gained 47.9 points, or 0.57 per cent, to 8,447.0 - its best close since December 5 and only 48 points from its highest close hit in the same week. 

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