RBA hold rates steady, as expected Miners jump 2.2%, energy...

	  RBA hold rates steady, as expected 

	  Miners jump 2.2%, energy stocks up 2% 

	  Banking stocks down 0.5% 

	  NZ50 index snaps six-day losing streak 

Australian shares ended higher on Tuesday, with heavyweight mining and energy sectors contributing the most, while traders found comfort after the central bank signalled greater confidence in inflation returning to its target range.

The S&P/ASX 200 index (xjo) closed 0.4% higher at 7,703.20 points. The benchmark was largely range-bound most of the session before the central bank announced its decision.

It was no surprise that the Reserve Bank of Australia (RBA) left the cash rate unchanged at a 12-year high of 4.35%. The RBA softened its policy tightening bias, reinforcing market wagers that the next move would be an easing of policy.

Analysts at ANZ wrote in a note that while the RBA's post-meeting statements are more dovish than in February, "on balance we are left concluding it is an evolution and weakening in the bias, rather than a complete dropping altogether".

ANZ continues to "favour November for the start of a mild easing cycle".

Brad Smoling, managing director at Smoling Stockbroking, predicted the benchmark to be heading for declines in "both short and long term" as the RBA "overtightened" interest rates.

"They have misjudged the lag effect of monetary policy yet again," Smoling said.

Meanwhile, the Australian dollar AUD=D3 fell about 0.4% to a two-week low of $0.6533 following the RBA decision.

On the bourse in Sydney, heavyweight miners .AXMM rose 2.2% with Rio Tinto (RIO) , BHP Group (BHP) and Fortescue (FMG) gaining between 2.5% and 3.6%.

Energy stocks .AXEJ jumped 2%, supported by strength in sector majors Woodside Energy (WDS) and Santos (STO) , which advanced 2.3% and 1.8%, respectively.

Real estate stocks .AXRE rose 1%, pulled by top firms including Goodman Group (GMG) , Scentre Group (SCG) and Dexus (DXS) gaining between 0.3% and 2.3%.

Limiting the gains, financials .AXFJ lost 0.5%, with the "Big Four" banks dipping between 0.2% and 0.6%.

In New Zealand, the benchmark S&P/NZX 50 index (nz50) snapped a six-day losing streak to close 0.8% higher at 11,817.91 points.