ASX flat as RBA rate hike odds climb amid inflation
The ASX200 fell 1.2 points Friday, ending another weak week as RBA rate hike expectations climb amid persistent inflation concerns.
The ASX200 fell 1.2 points on Friday to close at 8731.2, with shares down 0.11 per cent for the week, 4 per cent over the month and flat for the year. RBA governor Michele Bullock's inflation warning pushed rate hike expectations to more than four-in-five at the September 29 meeting.
Mining stocks bucked the trend, rising 1.4 per cent, and the gold sub-index surged almost 4 per cent as gold firmed to US$4393 an ounce.
- 8731.2
- ASX200 close Friday
- Down 0.11 per cent
- Week performance
- US$4393 per ounce
- Gold price
- More than 80 per cent
- Rate hike odds
Why it mattersAustralians with shares, superannuation or savings are seeing weak returns and facing higher interest rates, directly affecting their wealth and borrowing costs.
AustraliaRising RBA rate hike odds will push up home loan repayments for Australian mortgage holders and reduce returns on savings and investment accounts.
Corroborated byperthnow.com.au
✓ Claims checked against the source and corrected before publish. checked 6 d ago
