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S&P/ASX 200, XC0006013624

S&P/ ASX 200 falls 0.58% ahead of RBA decision

Published on 11/02/2026 at 22:41 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
The S&P/ASX 200 ended Monday at 8,856.5 points, down 0.58 percent. Mining and financial shares weighed on the benchmark ahead of the Reserve Bank of Australia's expected rate decision.

ASX 200 closes lower ahead of RBA

  • The S&P/ASX 200 fell 0.58 percent to 8,856.5 points on Monday, November 2, 2026.
  • Materials, financials and consumer staples led the sector declines, while investors awaited the Reserve Bank of Australia's policy decision.
  • The RBA was widely expected to raise its cash-rate target on November 3, but that outcome remained a forecast rather than a confirmed decision.
S&P/ASX 200, XC0006013624, Illustration mit AI erstellt.
S&P/ASX 200, XC0006013624, Illustration mit AI erstellt.

The S&P/ASX 200 closed lower on Monday, November 2, 2026, as investors reduced risk ahead of the Reserve Bank of Australia's next policy decision. The benchmark fell 51.6 points, or 0.58 percent, to 8,856.5, compared with Friday's close at 8,908.1.

Samso reported that the decline came after a stronger start to the session and that eight of the 11 ASX sectors finished lower. Consumer staples fell 1.39 percent, materials declined 1.35 percent and financials lost 0.63 percent. Industrials and consumer discretionary stocks were among the sectors that advanced.

Miners and banks weigh on index

Large mining stocks were a significant drag. BHP Group fell 1.42 percent to 56.74 Australian dollars and Rio Tinto declined 1.17 percent to 145.59 Australian dollars, according to PerthNow. The report attributed the broader weakness to softer US technology shares and growing caution before the RBA meeting.

The banking sector was mixed. Westpac gained 1.00 percent after reporting a full-year net profit of 6.8 billion Australian dollars, while the other major banks ended lower. ABC News also reported that Westpac's net interest margin had narrowed and that Commonwealth Bank and National Australia Bank had reduced their economic-growth forecasts.

RBA decision remains next catalyst

The RBA's Monetary Policy Board was scheduled to meet on November 2 and 3, with its decision due on November 3 at 2:30 p.m. Sydney time. A InvestingLive survey summary said most economists expected a 25-basis-point increase from 4.60 percent to 4.85 percent. That was an expectation, not yet the announced policy outcome.

For investors, the next session's focus is therefore likely to be the RBA decision and its accompanying guidance, alongside the effect of global technology and commodity-price moves on Australian equities. Further coverage of the index is available on the S&P/ASX 200 topic page.

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