Australian Stocks Bounce but Still Headed for Worst Month in Six

Australian stocks rose slightly on Wednesday but are still headed for their worst month in six as investors remain cautious ahead of inflation data.

The S&P/ASX 200 index gained 0.1% to 8,718.1 points, with gold miners leading the charge after a rebound in gold prices.

However, the benchmark is on track for its worst month since March due to concerns over inflation and rising oil prices.

The Reserve Bank of Australia's cash rate remains at a 15-year high, set just yesterday alongside warnings that further hikes may be needed to curb stubborn inflation.