ASX 200 closes flat after RBA rate pause as banks and energy offset tech losses
Australian shares finished almost unchanged on Tuesday, with the S&P/ASX 200 clawing back early weakness after the Reserve Bank of Australia kept interest rates on hold. The benchmark index, which S&P Dow Jones Indices describes as Australia’s main institutional investable benchmark for the 200 largest eligible ASX-listed stocks by float-adjusted market capitalisation, closed at 8,917.7, up just 0.04%. “Float-adjusted” means the index gives weight to shares available for public trading, rather than all shares on issue. The rate decision mattered because the cash rate is the RBA’s key short-term interest rate, and changes in it flow through to mortgages, business borrowing costs, bond yields and equity valuations. The RBA held the target at 4.35% after three increases earlier this year,