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AAP
AAP
Business
Derek Rose

UNCOVERED: Aust shares dip as expectations for quick rate cuts dim - The Untold Story

United States Christopher Waller Evolution
Evolution Mining and Bapcor were the worst performers in the ASX200 on Wednesday. (Steven Saphore/AAP PHOTOS)

The Australian share market has closed lower following more pushback from central bankers on the pace of global interest rate cuts, with the hawkish rhetoric also sending the local currency to a five-week low.

The benchmark S&P/ASX200 index on Wednesday dropped 21.7 points, or 0.29 per cent, to 7,393.1, while the All Ordinaries fell 24.6 points, or 0.32 per cent, to 7,622.5.

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