Australian shares close lower as banks and miners drag

The S&P/ASX200 fell 59.2 points, or 0.67 per cent, to 8,818.5 at the end of midweek trade. (Steven Markham/AAP PHOTOS)

Australia's share market has more than wiped the previous session's gains, as financials, miners and real estate stocks weighed on the bourse ahead of a key central bank decision.

The S&P/ASX200 fell 59.2 points, or 0.67 per cent, to 8,818.5, as the broader All Ordinaries slipped 56.3 points, or 0.62 per cent, to 9,094.9.