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Tuesday, 3 February 2015

Shares to a 7 year high

Interest rates were cut again today after nearly 18 months of stability to just 2.25 percent.

The wording of the release suggests that this may not be a "lone wolf" cut either.

This sparked a few fireworks on the local sharemarket, the XJO (ASX 200) adding another 1.4 percent to a 7 year high at well above 5,700.

Commonwealth Bank (CBA) broke yet another new record high at $90,58 earlier in today's trade.