Australian shares end flat; hawkish RBA stance curbs appetite
(Updates to close) Gold stocks hit best session in nearly a month Miners log third consecutive week of losses RBA Governor said upside risks to inflation were materialising By Aamir Khalid Sept 18 (Reuters) — Australian shares let go of their earlier gains and ended flat on Friday, as bank losses offset strength in miners while investors weighed the prospect of further interest rate hikes and reduced risk exposure ahead of the weekend. The benchmark S&P/ASX 200 index ended flat at 8,731.20 points, having risen as much as 0.5% earlier in the session. The benchmark fell 0.1% for the week. Risk-appetite cooled after investors assessed comments from Reserve Bank of Australia Governor Michele Bullock, who warned that upside inflation risks linked to the Middle East conflict and the global AI investment boom were beginning to emerge, reinforcing expectations that interest rates may need to rise further. Bullock also said policymakers were assessing whether this year's three rate hikes would be sufficient to return inflation to target. "Governor Bullock's remarks that upside inflation risks are materialising, together with the IMF's call for the RBA to stand ready to hike further, have re
(Updates to close) Gold stocks hit best session in nearly a month Miners log third consecutive week of losses RBA Governor said upside risks to inflation were materialising By Aamir Khalid Sept 18 (Reuters) — Australian shares let go of their earlier gains and ended flat on Friday, as bank losses offset strength in miners while investors weighed the prospect of further interest rate hikes and reduced risk exposure ahead of the weekend. 5% earlier in the session. 1% for the week.
Risk-appetite cooled after investors assessed comments from Reserve Bank of Australia Governor Michele Bullock, who warned that upside inflation risks linked to the Middle East conflict and the global AI investment boom were beginning to emerge, reinforcing expectations that interest rates may need to rise further. Bullock also said policymakers were assessing whether this year's three rate hikes would be sufficient to return inflation to target.
"Governor Bullock's remarks that upside inflation risks are materialising, together with the IMF's call for the RBA to stand ready to hike further, have reinforced expectations of tighter policy," said Tim Waterer, chief market analyst at KCM Trade. 9%, tracking copper gains. The sub-index also logged its third consecutive week of losses. 8%.
9%, their best session in nearly a month, as bullion prices rose. 4% higher. 6%, with the "Big Four" banks trading in the red. 60% lifts funding costs and leans on a housing market Bullock herself said has softened more than expected," said Mark Gardner, CEO of MPC Markets.
1%, as oil prices weakened. 4%. 14 points. S.
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