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The Australian share market has opened higher ahead of the central bank’s decision on interest rates.

The benchmark S&P/ASX200 index was up 27.1 points, or 0.43 per cent, to 6,310.8 points at 1015 AEST on Tuesday, while the broader All Ordinaries was up 27.4 points, or 0.43 per cent, to 6,397.3.

The major miners led gains after the first 15 minutes of trade, with BHP up 1.21 per cent to $37.245, Rio Tinto up 3.09 per cent to $96.84, and Fortescue Metals up 6.01 per cent to $7.58.

The consumer staples sector was down 0.39 per cent, the only segment of the ASX in negative territory.

On Wall Street overnight, the Dow Jones Industrial Average finished down 0.25 per cent, the S&P 500 was down 0.45 per cent and the tech-heavy Nasdaq Composite was down 0.50 per cent.

The Reserve Bank of Australia will announce at 1430 AEST whether it will hold the cash rate at 1.5 per cent or cut to a fresh record low, as many expect.

The Aussie dollar is buying 69.91 US cents, unchanged from Monday.