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Australian shares slip as banks outweigh mining gains; inflation data in focus
Australian shares slid on Tuesday as losses in financials outweighed gains in mining stocks, boosted by stronger copper prices, while investors awaited quarterly inflation data for clues on the central bank’s next policy move. The S&P/ASX 200 index fell 0.3% to 8,783.00, as of 0036 GMT. The benchmark gained 0.2% on Monday. Markets are focused on Wednesday’s quarterly inflation print for clues on the Reserve Bank of Australia’s key cash rate decision next week. Swaps imply nearly a 65% chance the central bank will hike rates a fifth time this year at its November 3 meeting. Rate-sensitive f...
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