S&P/ASX 200 dips, RBA holds rates

The RBA has held the cash rate steady, while the ASX 200 has dipped from its early gains. BHP up after iron ore price gain.  Westpac sells NZ life insurance business. 

Investors have been focused on the outcome of the Reserve Bank meeting. Picture: Gaye Gerard

Welcome to the Trading Day blog for Tuesday, July 6. The ASX started higher but dipped into the red before the RBA board meeting, where the Bank kept the cash rate unchanged at a record low 0.1%

Oil prices rose after a stalemate in OPEC talks over lifting output, while European markets closed higher. Iron ore prices were up. Wall Street was closed. RBA Governor Philip Lowe is due to hold a press conference this afternoon, to make key announcements on its three-year bond yield target and its bond buying program. 

Originally published as S&P/ASX 200 dips, RBA holds rates

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