Banks lead Australian shares lower as RBA cuts rates for first time since 2020



Australian shares ended lower on Tuesday, with index heavyweight banks leading the decline, after the central bank delivered a widely expected interest rate cut, its first since November 2020.

The S&P/ASX 200 index fell 0.7% to 8,481, its lowest close since February 5. The benchmark slipped 0.2% on Monday.

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