SYDNEY, AAP – A Reserve Bank decision to begin easing support for the economy has contributed to the biggest loss on the ASX in more than two weeks.
Shares fell steadily after the RBA on Tuesday said it will ease its bond-buying and not extend its three-year yield curve control target.
The cash rate remains at a record low 0.1 per cent.
The benchmark S&P/ASX200 index closed down by 53.2 points, or 0.73 per cent, to 7261.8.
The All Ordinaries closed lower by 57.6 points, or 0.76 per cent, to 7531.4.
Energy shares were the only category with substantive gains and rose 1.54 per cent.
The Australian dollar was buying 75.95 US cents at 1619 AEST, higher from 75.17 US cents at Monday’s close.