Half-time wrap:
Aussie shares trimmed strong early gains after the Reserve Bank warned it held a "low tolerance" for prolonged inflation and stood ready to raise interest rates again if needed.
The unexpectedly hawkish tone of the minutes from this month's central bank meeting knocked roughly 30 points off the ASX 200's mid-morning gain in a matter of minutes. The dollar rallied around a fifth a cent.
At the halfway mark, the index was up 33 points or 0.47% after earlier putting on as much as 74 points. Tech, communications, materials and financials were the pick of the sectors.
The new-look RBA under Governor Michele Bullock said, "The Board has a low tolerance for a slower return of inflation to target than currently expected... Members reaffirmed their determination to return inflation to target within a reasonable timeframe and their willingness to do what is necessary to achieve that outcome."
Retail stocks sold off when the minutes were released. Harvey Norman shed 1.86%, JB Hi-Fi 1.16%, Coles 0.9% and Wesfarmers 0.32%.
Personal trading: Got something out of the brief bounce in FIN. Also a few peanuts from a part-fill in HFR at the low.
