Aussie shares up as bank boss bets against Cup day hike

Australian shares edged higher as fears of a November interest rate hike eased. (Paul Braven/AAP PHOTOS)

Australian shares have ended the day higher after the nation's's top central banker said the race that stops the nation won't likely accompany a rate hike that stops the economy.

The S&P/ASX200 edged 29.6 points higher on Tuesday, up 0.34 per cent, to 8,709.3, as the broader All Ordinaries gained 35.9 points, or 0.41 per cent, to 8,886.6.