SYDNEY, AAP – Reserve Bank optimism about the economic reopening of some states has led ASX investors to recover some but not all their losses.
Central bank governor Philip Lowe in his monetary policy comments said economic recovery from the coronavirus lockdowns would be slower than earlier this year.
However, he said the economy would be at about its pre-Delta variant levels by the second half of next year.
The share market rose following the news. The cash rate was left at 0.1 per cent.
The benchmark S&P/ASX200 index closed lower by 30.1 points, or 0.41 per cent, to 7248.4.
The All Ordinaries closed down 40.3 points, or 0.53 per cent, to 7536.5.
The Australian dollar was buying 72.65 US cents at 1624 AEDT, lower from 72.74 US cents at Monday’s close.