Global Markets | Australian shares fall as RBA rate hike hits financials, miners
- Posted on May 5, 2026
- By Business News Today
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- 1 min read
Global Markets | Australian shares fall as RBA rate hike hits financials, miners
Australian shares saw a slight dip on Tuesday. The Reserve Bank of Australia increased its cash rate by 25 basis points. This move was anticipated by markets. Inflation remains a concern due to rising oil prices. The central bank also lowered its economic growth forecast. Financial and mining stocks experienced declines. Energy and technology sectors showed gains.
