Australian Shares Dip Ahead of Central Bank Rate Decision Amid Middle East Tensions

Australian shares declined 0.4% on March 16, 2026, as weaker commodity prices pressured miners amid cautious investor sentiment ahead of an expected central bank rate hike. The S&P ASX 200 closed at 8,583.4 points, with miners like Rio Tinto and Fortescue falling notably. Meanwhile, rate-sensitive financials and energy stocks gained, supported by ongoing Middle East tensions affecting oil markets. Trading remained thin as geopolitical risks persisted, with economists largely anticipating a 0.25% rate increase at Tuesday's meeting.