Aust stocks open higher

Local market lifts as Bernanke flags no 'preset course' for QE taper.

The Australian stock market opened higher after gains on Wall Street as United States Federal Reserve chairman Ben Bernanke said tapering of stimulus measures was not on a "preset course".

In testimony to Congress, Dr Bernanke reiterated that the Fed would likely scale back its $US85 billion-a-month bond-buying program later this year, but only if the economy improves.

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