The local share market, already in the green, was boosted by the chance of an interest rate cut. -AAP Image
The local share market has rallied to an eight-week high after cooler-than-expected inflation figures boosted the odds of a domestic interest rate cut in February.
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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 just 48 points from its highest close hit in the same week.
The broader All Ordinaries gained 56.2 points, or 0.65 per cent, to 8,700.7.
The Australian dollar was buying 62.43 US cents, from 62.54 US cents at close of business Tuesday.
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