Australian shares slipped on Tuesday, dragged down by miners and gold stocks on weak underlying metals prices, as minutes of the central bank's latest policy meeting underscored concerns about inflation, cementing fears of further interest rate hikes.
The benchmark S&P/ASX 200 index closed 0.5% lower at 8,778.70 on the final trading day of the current financial year. The index rose 3.5% for the quarter, its best since September 2025, driven by index heavyweight miners and banks. Reserve Bank of Australia policymakers held interest rates steady this month to balance inflation and employment goals, but remained open to further tightening amid inflation risks from the Middle East conflict, the central bank minutes showed.
