RBA Decision Looms: ASX 200 Falls for Fourth Consecutive Week

The ASX 200 index fell for its fourth consecutive week, closing at 8,665 on Friday. This decline of 37 points represents a 0.4% drop in value.

Investors remain cautious ahead of the Reserve Bank of Australia's (RBA) upcoming policy decision, with expectations of further interest-rate hikes due to persistent inflation. Three increases earlier this year have set the stage for potential additional rate hikes.

The latest inflation data has been a major focus, particularly after the July reading came in above expectations and remained higher than the RBA's 23% target range. August employment numbers sent mixed signals, with the unemployment rate rising to a near five-year high of 4.6%, while employment growth exceeded forecasts.

Most sectors experienced losses, led by technology, consumer services, and logistics stocks. Specifically, Mineral Resources fell 4.8%, PLS Group dropped 3.7%, REA Group declined 3.2%, and Xero lost 2.8%.