ASX slips as RBA rate rise looms. The Australian sharemarket fell 0.2 percent today ahead of tomorrow's Reserve Bank decision, with investors bracing for another interest rate increase. Energy stocks led the decline, with Woodside Energy dropping nearly 3 percent and Santos falling 2.2 percent. In banking, National Australia Bank sank 1.3 percent after posting disappointing half-yearly profits, though ANZ Group managed a modest 0.8 percent gain despite its own weak earnings. Southern Cross Media rose 1.7 percent following a shareholder revolt that ousted chairman Heath-Mackay Cruise, with Seven's Bruce McWilliam set to take the helm. Tomorrow's 2 PM RBA announcement is expected to significantly influence market direction in the coming days.
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