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Business confidence unchanged by rate cut

AAP logoAAP 11/10/2016

Business confidence has remained steady, despite the interest rate cut the previous month, the National Australia Bank's survey for September shows.

"There was no hint that the RBA's (Reserve Bank of Australia) interest rate cut in early August had any further material impact on confidence in September after seemingly providing some support in August," NAB's chief economist Alan Oster said.

Mr Oster said it was still a good outcome, with confidence in line with its long-run average, even though he would prefer to see more positive sentiment to lay the groundwork for stronger non-mining business investment.

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