Commonwealth Bank share price beats ASX slide as RBA hike bets push CBA to two-week high
Commonwealth Bank of Australia shares closed up 1.02% at A$175.53, their highest in over two weeks, as investors bought rate-sensitive lenders before the Reserve Bank of Australia’s policy decision. The S&P/ASX 200 fell 0.4% as miners dropped on weaker commodity prices. CBA led banking stocks higher, offsetting declines in major mining shares. Most economists expect the RBA to raise rates on Tuesday.