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Australian press: RBA may rethink its inflation target

The Australian Financial Review reported the following overnight:

Calls for the Reserve Bank of Australia to lower its 2-3% inflation target

Speculations the RBA will use the changeover to new Governor Lowe in September to review the target or the way it is used

Asia turns risk-averse, tracks China stocks lower

A major turnaround in the risk conditions after a negative Chinese open, weighed dramatically on rest of Asia, with the yen bulls back in form amid deterioratin
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Gold firmer, re-takes $ 1270 amid USD weakness

The yellow metal extends its recovery mode into a second straight session this Wednesday, benefiting from a sudden bout of risk-aversion seen across the markets
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