Oil falls, Wall Street mixed, ASX set to slide
Australian shares rose on Tuesday as market expectations for interest rate hikes were pushed back to 2027 following a speech by the Reserve Bank governor. While consumer stocks performed well, the raw materials sector saw a decline.
Why it matters
Shifts in interest rate expectations significantly influence market volatility and investor behavior in the Australian economy.
— 5:53pm , first published July 28, 2026 — 5:17am
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Share A A A Australian shares have reversed an early loss to end higher after signs of economic pressure prompted a dovish repricing on the interest rate outlook.
The S&P/ASX200 rose 53.8 points on Tuesday, up 0.6 per cent to 8947.8, as the broader All Ordinaries gained 48.2 points, or 0.53 per cent, to 9112.
The sharemarket closed higher on Tuesday, helped by a rise in consumer stocks. Sitthixay Ditthavong In a mostly hawkish speech to the Anika Foundation, Reserve Bank governor Michele Bullock noted that while demand growth was moderating as expected after three cash rate increases in 2026, housing and jobs market conditions had eased more steeply than predicted.
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