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Australian shares edge higher as banks overshadow mining losses
Australian shares inched higher on Thursday, as gains in financials outweighed losses in heavyweight miners, while hot inflation data increased bets for a fifth central bank rate hike this year. The S&P/ASX 200 index rose 0.2% to 8,868.20 as of 0105 GMT. The benchmark ended flat on Wednesday. Wednesday data showed higher fuel-cost-driven inflation accelerating in the third quarter, strengthening expectations of a rate hike at the Reserve Bank of Australia’s meeting next week. RBA Governor Michele Bullock said policymakers will weigh next week whether four rate hikes this year are enough to...
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