At 11:35am, the S&P/ASX 200 is 0.21 per cent higher at 7997.10.
The Reserve Bank held the cash rate steady at 4.35% for the sixth consecutive meeting, but minutes reveal serious consideration of a rate hike due to persistent inflation risks. While no decision was made, the central bank emphasised that all options remain open.
The SPI futures are pointing to a rise of 24 points.
Best and worst performers
The best-performing sector is Materials, up 0.85 per cent. The worst-performing sector is REITs, down 0.67 per cent.
The best-performing large cap is South32 (ASX:S32), trading 3.04 per cent higher at $3.05. It is followed by shares in Premier Investments (ASX:PMV) and Suncorp Group (ASX:SUN).
The worst-performing large cap is Yancoal Australia (ASX:YAL), trading 21.41 per cent lower at $5.47. It is followed by shares in Mercury NZ (ASX:MCY) and Cleanaway Waste Management (ASX:CWY).
Commodities and the dollar
Gold is trading at US$2544.00 an ounce.
Iron ore is 2.8 per cent higher at US$94.45 a tonne.
Iron ore futures are pointing to a 0.78 per cent rise.
One Australian dollar is buying 67.26 US cents.
