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Australia shares change gears to inch higher after RBA hikes rates as expected
Australian shares reversed course to tick higher on Tuesday after the central bank raised interest rates as expected and flagged that rate hikes since the start of the year have tightened financial conditions. The S&P/ASX 200 index was up 0.2% at 8,872.30 by 0345 GMT. The benchmark had fallen 0.1% before the rate decision. The Reserve Bank of Australia raised its key cash rate to a near 18-year high of 4.85% after its November policy meeting, and said it would continue to do what it considers necessary to bring inflation to target. However, it removed a reference to increasing the cash rat...
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