SYDNEY, AAP – Talk of rate rises from New Zealand’s central bank and falling iron ore prices have pulled Australia’s share market lower.
The Reserve Bank of New Zealand on Wednesday kept rates on hold but flagged it expects them to rise from mid-next year.
The Aussie dollar rose on the prospect of Australia’s central bank adopting similar views, while the share market eased.
Meanwhile falling iron ore prices made materials shares slip by 1.15 per cent.
The benchmark S&P/ASX200 index closed down by 22.7 points, or 0.32 per cent, to 7092.5.
The All Ordinaries closed lower by 17.5 points, or 0.24 per cent, to 7331.6.
The Australian dollar was buying 77.78 US cents at 1626 AEST, higher from 77.68 US cents at Tuesday’s close.