Australia shares drop to one-week low as metal prices fall
MELBOURNE, Oct 24 (Reuters) - Australian shares fell 0.9 percent to their lowest in a week on Wednesday, with miners and banks leading losses after copper prices hit their lowest since early September and other metals also plumbed one-month lows. The benchmark S&P/ASX 200 index fell 41 points to 4,501.7 by 2320 GMT, its lowest since Oct. 17. New Zealand's benchmark NZX 50 index fell 0.5 percent to 3,983.8, retreating from a 4-1/2 year closing high of 4,004.26 hit on Tuesday. The HSBC Flash China manufacturing PMI is due on Wednesday, and signs of a further slowdown in the world's No. 2 economy would raise concerns about slowing demand for Australian resource exports. Australian inflation data is due at 0030 GMT. A benign result would increase expectations of another interest rate cut next month. (Reporting by Miranda Maxwell; Editing by Edwina Gibbs)
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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.