Australian shares end 0.3% higher after RBA lifts cash rate to 4.60%

(Updates to close) Tech stocks log best day in over 2 months Australia 10-year yield near 2011 levels NZ stocks suffer worst day in 3 weeks By Kumar Tanishk Sept 29 (Reuters) — Australian shares eked out gains on Tuesday, buoyed by miners and tech stocks, while the central bank delivered a widely expected rate hike and signalled further tightening to tame stubborn inflation. 60%, its fourth increase this year. RBA Governor Michele Bullock said the board did consider keeping interest rates steady this time, adding that the central bank is now trying to look forward and see what the rate rises so far would do to the economy. 30 points.

"Our base case is that rates have probably peaked as the RBA has likely now done enough to weaken demand sufficiently to push inflation back to target by the end of next year," said AMP's Chief Economist Shane Oliver. Rising mortgage and fuel costs, falling home prices, and a softening labour market point to a further cooling in economic activity and a greater risk of recession, Oliver added. Futures now imply a 44% chance of another increase in November, and a 60% chance in December. 2%, while the country's benchmark 10-year bond yields remained near levels last seen in mid-2011.

8%. 1%, respectively. 1% to snap a three-session losing streak on stronger copper. 4%.

6%, notching their strongest session in over two months. 4%, respectively, after both tech firms reported robust forecasts. 63 points, its weakest session in three weeks. com; X: @thatstanishk )