ASX 200 ends flat as miners offset bank gains
Australian shares closed flat on Monday, with gains in financials countered by losses in commodity stocks. Investors remained cautious ahead of an expected interest rate hike by the Reserve Bank of Australia next week. Financials rose 0.6%, while miners fell 0.7%. The S&P/ASX 200 closed unchanged at 8,731.90 points.
7% By Keshav SinghChundawat Sept 21 (Reuters) — Australian shares ended little changed on Monday as gains in financials offset losses in commodity stocks, while expectations of a central bank rate hike next week kept investors cautious. 1% for the week. Michele Bullock, Governor of the Reserve Bank of Australia, on Friday warned that upside risks to inflation are materialising from higher oil prices and the AI boom. All the big four banks now expect the central bank to hike early next week as Commonwealth Bank of Australia and ANZ changed their forecasts.
ANZ is pencilling in another hike in November. The RBA will hike interest rate because of oil, sticky services inflation and Bullock's own language, said Mark Gardner, founder and CEO of MPC Markets. 6% at its meeting next week. 9%.
"Financials are catching a bid because the hike's now consensus, and a first hike still reads as a net-interest-margin gift," Gardner added. 5% higher, respectively. 65 billion. 5% as Brent crude stayed above $100 a barrel, despite falling nearly 2% on hopes for diplomacy in the Iran war.
4%, respectively. 7% on softer bullion prices. 20 points, its highest since September 10. com;)