SYDNEY, AAP – A Reserve Bank decision to leave rates at a record low gave shares a short-lived boost on the Australian market, which still closed lower.
The central bank left the cash rate at 0.1 per cent and continued to defer bigger decisions about its quantitative easing efforts to July.
The Aussie dollar slumped from about 77.60 US cents to 77.40 US cents following the decision.
The benchmark S&P/ASX200 index closed lower by 19 points, or 0.27 per cent, to 7142.6.
The All Ordinaries closed down 14.6 points, or 0.2 per cent, to 7392.1.
Energy shares were best and rose 1.34 per cent.
The Australian dollar was buying 77.39 US cents at 1622 AEST, higher from 77.26 US cents at Monday’s close.