Australia Stock Market: ASX 200 Climbs as Miners Rebound While RBA Rate-Hike Bets Surge
Australian stocks notched a second consecutive advance on Wednesday, as the S&P/ASX 200 finished up 0.59% at 8,743.50. Banks and miners provided most of the lift, with the index recouping more ground after last week’s pullback. The rebound carries weight, with investors now grappling with a stickier rates outlook, not relief. Interest-rate swaps, the go-to tool for traders gauging policy bets, on this day were pricing in roughly a 75% likelihood the Reserve Bank of Australia hikes the cash rate 25 basis points to 4.1% next week. That shift came after Deputy Governor Andrew Hauser flagged that the Middle East oil shock may fuel inflation risks.