Australian Shares Fall Ahead of RBA Decision

The S&P/ASX 200 Index opened 04% lower to around 7,296 on Tuesday, remaining in a sideways trading range as investors braced for the Reserve Bank of Australia’s policy decision, where it is expected to deliver another modest 25 basis point rate hike as domestic inflation trended lower.

Australian shares also tracked losses on Wall Street overnight after better-than-expected US services sector activity data suggested the Federal Reserve could raise interest rates for longer.