Thanks afternoon crew.
End-of-day summary:
The share market bounced off a two-month low as Japanese shares and US stock futures rose and the Reserve Bank left interest rates on hold, as widely expected.
The ASX 200 climbed 31 points or 0.41% as the global market rout took a breather following another harrowing overnight session on Wall Street.
Consumer stocks, REITs and banks led today's recovery. Energy producers, gold miners and telcos were among the laggards.
The Reserve Bank left the cash rate target at 4.35% this afternoon, citing stubborn inflation as the reason why Australia has yet to join a global shift towards an easing bias.
"The latest numbers... demonstrate that inflation is proving persistent. In year-ended terms, underlying inflation has now been above the midpoint of the target for 11 consecutive quarters. And quarterly underlying CPI inflation has fallen very little over the past year," the bank said in a statement.
The market showed minimal reaction to the news, retaining its early gains as Japan's Nikkei 225 index bounced 8.9% and S&P 500 futures rallied 1.4%.
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